Alibaba was building a media empire. Now it's dumping Chinese TV shares

Hong Kong (CNN Business) Alibaba is dumping its shares in one of China's largest TV broadcasters just months after it bought them, as the company comes under growing pressure from a government campaign to rein in Big Tech's power and influence. Alibaba ( BABA ) plans to sell its 5% stake in Mango Excellent Media, according to a statement from the media company on Thursday. It owns Mango TV, which is massively popular for its variety shows in China. China's second largest state-owned television network, Hunan Broadcasting System, controls Mango with a stake of 56%.The statement also said that Alibaba…