Alibaba plans to create China’s version of Netflix, HBO

Alibaba Group Holding Ltd. is planning to build China’s version of Netflix and HBO via a new service called Tmall Box Office, as it tries to service 600 million families craving more entertainment content.
Tmall Box Office will be offered in about two months through Alibaba’s set-top box and smart televisions that carry its operating system, including those manufactured by Haier Group Corp., Liu Chunning, president of Alibaba’s digital entertainment business, said at a press briefing in Shanghai yesterday. Some of the content will be produced by the company and some purchased overseas, said Liu.
Alibaba is on a buying spree as it tries to compete with Tencent Holdings Ltd. for China’s USD5.9 billion online video market. Alibaba Pictures Group Ltd. completed a HK$12.2 billion ($1.57 billion) stake sale in Hong Kong to help finance potential acquisitions in June. Billionaire Chairman Jack Ma visited Hollywood in October to acquire more content.
“We want to create a whole new family entertainment experience,” Liu said. “Our goal is to become like Netflix in the U.S, HBO in the U.S.”
The value of China’s online video market is estimated to almost triple to 90 billion yuan ($14.5 billion) by 2018, according to Shanghai-based Internet consultant IResearch.
Wasu Media Holding Co., the Chinese media company backed by Ma, has also held talks with Netflix Inc. as the broadcaster of “House of Cards” hopes to expand in China, the company said in May. Bloomberg

Malaysia Airlines jet makes emergency landing in Australia

A Malaysia Airlines passenger jet made an emergency landing at Melbourne airport on Friday after instruments indicated an engine fire, officials said. Flight 148 from Melbourne to Kuala Lumpur landed without incident or injury, airport spokeswoman Anna Gillett said. “The pilot called an emergency landing and as standard procedure when a pilot calls any sort of emergency landing, emergency personnel are currently on site, Gillett said shortly after the landing. The airline said in a statement that a preliminary inspection of the aircraft revealed no external physical evidence of a fire. Airservices Australia was told that an engine fire warning light had activated in the cockpit soon after takeoff, but could not confirm whether that was a malfunction or whether there had been a fire, a spokesman said on condition of anonymity, citing agency policy. The plane had dumped fuel south of Melbourne as a safety precaution before landing, he said. The troubled state-owned airline lost two airliners in disasters last year. AP