The establishment of Alibaba Digital Media & Entertainment Group in June 2016 marked its entry into the media area in the form of capital，starting to bring new technologies and new operational thinking into the traditional media. This paper analyzes the current investment status and characteristics of the Alibaba Group and its investment purpose and predicts its development trend. On this basis，this paper analyzes the possible impact of Alibaba involvement in the media industry on the ways of content production，operational mode and media ecology from the logic in strategy，technology，capital，market and communications.