WME-Connected Raine Group Played Unsung Role In Yahoo-Alibaba Deal
A Hollywood-connected name was missing from yesterday’s press release announcing Yahoo’s $7.1B agreement to sell half of its stake in Alibaba Group — equal to 20% of the Chinese e-commerce operation — back to the company. The deal also affects Japan’s Softbank, which owns 29% of Alibaba. It was advised in the deal by Jeffrey Sine, co-founder of The Raine Group, a merchant bank with close ties to WME. Sine’s accustomed to multibillion-dollar media transactions: At Morgan Stanley, he advised Time Warner when it bought AOL and Turner Broadcasting, and Viacom when it bought CBS.
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