(14 December 2015) E-commerce company Alibaba is buying Hong Kong’s South China Morning Post for 2.06 billion Hong Kong dollars ($266 million), it said Monday, in a deal that’s stirred concern the English-language paper’s reporting may be softened under new Chinese owners.
The Chinese e-commerce giant is paying cash for the newspaper and the SCMP Group’s other media assets, including magazines, outdoor advertising and digital media, the company said in a filing to the Hong Kong stock exchange. The deal was announced on Friday but no amount was given for the transaction.
The Morning Call has the full story.
