China media group CMC raises $1.5 billion from Alibaba, Tencent

SHANGHAI (Reuters) - Chinese state-backed media group CMC Inc said on Tuesday that it had raised around 10 billion yuan ($1.49 billion) in a fund-raising round from investors including rival tech giants Alibaba Group Holding Ltd and Tencent Holdings Ltd.

from Reuters: Technology News https://ift.tt/2u0v8nX