STEVE INSKEEP, HOST: NPR's business news starts with Chinese acquisitions.</s>STEVE INSKEEP, HOST: A troubled Internet giant, Yahoo announced yesterday that it would sell back nearly half of its stake in Alibaba, which is a Chinese e-commerce company. The deal totals about $7.1 billion and will provide Yahoo with the money needed to pay dividends to shareholders. Alibaba has also agreed to buy back the remainder of the shares at a later date.</s>RENEE MONTAGNE, HOST: Another Chinese entertainment company, the Wanda Group, has just agreed to purchase AMC Entertainment for more than $2.5 billion. Kansas City-based AMC is the second-largest movie theater chain in the U.S., and owns almost 5,000 theaters in the U.S. and Canada. The acquisition makes Wanda the largest theater company in the world.</s>RENEE MONTAGNE, HOST: Analysts say the move will help the Chinese company expand into the American market, while at the same time helping Hollywood find a place in China's growing film industry.
Troubled Internet giant, Yahoo has announced it would sell back nearly half of its 40 percent stake in Alibaba, a Chinese e-commerce company. And, the Wanda Group has agreed to purchase AMC Entertainment for more than $2.5 billion.