As part of a multi-faceted deal, Wu will become chairman of Content, while selling the company a subsidiary of his Beijing-based Seven Stars Entertainment, including the China distributor of upcoming "Grace of Monaco."
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ChinaVision’s shares were trading at HK$2.08 at the end of the morning, compared with their previous close of HK$0.64 on Feb. 24.
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The $800 million deal will give the e-commerce giant access to ChinaVision's diverse content, including Premier League soccer and local blockbusters, such as Stephen Chow’s "Journey to the West."
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