UPDATED: Chinese e-commerce giant Alibaba is to reorganize it digital and entertainment businesses and launch a $1.54 billion (RMB10 billion) entertainment fund. According to news initially reported by Reuters, Yu Yongfu, who currently heads the group’s mobile business, will now head the combined mobile and entertainment businesses, Alibaba Digital Media and Entertainment. The move involves the consolidation of: Youku Tudou, the video streaming firm it acquired full control of last year; UCWeb, its mobile browser business acquired in 2014; Alibaba...
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