Alibaba registers film company

Alibaba Group has registered a film company in Hong Kong as part of the its larger effort to enter the media business, Reuters reported, citing a regulatory filing. The company, Alibaba Pictures Group, was previously registered in April as Alibaba Films Group before changing its name later in the month. The e-commerce firm has already spent more than US$3 billion on film and television investments. Alibaba has been on an acquisition spree, investing more than US$6.2 billion since the beginning of this year.