E-commerce giant Alibaba's film arm investing in 'Mission: Impossible _ Rogue Nation'

IndustriesAssociated Press

The film arm of e-commerce giant Alibaba Group says it will invest in the next "Mission: Impossible" movie in its first venture into Hollywood financing.

Alibaba Pictures Group Ltd. announced the agreement Wednesday with Paramount Picture Corp. They gave no details of how much Alibaba would invest in "Mission: Impossible — Rogue Nation" but said it will collaborate in online ticketing, promotion in China and merchandising.

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The announcement adds to a string of investments by Chinese companies in film production in an effort to capture more of the profits from China's fast-growing market.

Alibaba Pictures said it has established a presence in Los Angeles to pursue other possible investments and collaboration in Hollywood.