The trouble is far from over for Jack Ma's embattled Alibaba Group Holdings. China's government has askedthe companyto sell off its vast collection of media assets, according to a report in The Wall Street Journal.
The request represents yet another escalation of the regulatory pressure that has been heaped upon Ma's e-commerce, entertainment and fintech empire following the spectacular failure of Ant Financial to go public last November.
The crackdown on Alibaba's media holdings began earlier this year after Chinese officials took a full accounting of the tech conglomerate's collection of assets.
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