China’s Alibaba Buying Controlling Stake in George Clooney

Chinese giant Alibaba is poised to purchase a majority stake in George Clooney.

The deal, which is being formerly announced on the second day of the Hong Kong Filmart, is believed to be worth in excess of $200 million, and see Jack Ma’s e-commerce conglomerate make a bold move into Hollywood.

“The stake became available earlier last week after a group of Indian investors pulled out, and Alibaba immediately seized the opportunity,” said a source.

Clooney is expected to be merged into Alibaba’s new studio Alibaba Pictures, with the source adding that there “should be minimal redundancies.”

THB has reached out to Clooney for comment.

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