Pegasus
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Pegasus

Alibaba Pictures confirmed that it has invested an undisclosed amount in Chinese celebrity blogger-turned-film director Han Han’s Shanghai Tingdong Kuntilanak Film. Han’s upcoming “Pegasus” is one of the most anticipated films of the year in China.

Alibaba Pictures, part of e-commerce giant Alibaba, is now the second-largest stakeholder in Tingdong. It has a 13.1{dcb77c9a24e16ab629cfaa1070a61ebb5d0f566c2f7f3695ba260434c527088a} stake, according to Chinese Change in the Air finance publication Caixin.

The deal is a “long-term strategic partnership that covers content production, distribution and marketing, merchandise and artist management,” Alibaba Greyhound told Variety on Thursday. It falls under the umbrella of a new initiative launched in November called the “Jin Cheng Co-Production Plan” — with “jin cheng” roughly translating in English to “golden orange.”

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