NEW YORK (TheStreet) -- Shares of Alibaba Group Holding (BABA - Get Report) are up 0.98% to $92.53 in pre-market trade after it was reported that Executive Chairman and billionaire Jack Ma is stepping up his Hollywood deal making push, leading a team of executives meeting with studios to acquire online content, sources told Bloomberg.

Company founder Ma will meet in coming days with Lions Gate Entertainment (LGF) , Walt Disney (DIS - Get Report) , Viacom's (VIAB - Get Report) Paramount Pictures, Times Warner's (TWX) Warner Bros., Sony (SNE - Get Report) and Comcast's (CMCSA - Get Report) Universal, sources said.

China-based Alibaba will seek deals that give it the right to distribute U.S. movies and TV shows at home, or invest in studio stakes, theses sources told Bloomberg.

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With $25 billion from its September IPO, Alibaba is on the lookout for entertainment it can sell to Chinese consumers through its set-top boxes, which also offer goods from its e-commerce site, the world's largest, Bloomberg noted.

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