August 27: Alisports, the sports arm of Chinese e-commerce giant Alibaba, has signed a strategic agreement with China Telecom-owned Besttone Holdings.
This agreement, following Alibaba and China Telecom’s comprehensive strategic agreement in May, will see the pair enter a deep cooperation regarding video content, media rights, membership credits, e-sports events and big data.
Alisports is looking to share its media outlets and resources with Besttone’s subsidiaries Tianyi Video, Xuancai Hudong and Tianyi Credits, to provide more quality service experiences and expand its business in culture and entertainment.
Besttone, founded in 1992, is principally engaged in hotel operations, e-commerce and credits exchange businesses in China. The company was listed on the Shanghai Stock Exchange in 1993.
Alisports was set up in September 2015 after recruiting Zhang Dazhong to serve as CEO. The sports company has struck agreements with sporting properties like the FIFA Club World Cup, the National Football League and the International Boxing Association. The venture has created a sports service chain through combining the operations of e-sports, golf and road running events with Alibaba’s big data platform.
Proofread by William Logsdon