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Alibaba to Buy South China Morning Post for $266 Million | Tony Seruga
Dec
13

Alibaba to Buy South China Morning Post for $266 Million

By
  • Founder Jack Ma to follow Bezos in buying storied masthead
  • Alibaba pledges to ensure editorial freedom, scrap pay wall

Alibaba Group Holding Ltd., the e-commerce giant headed by billionaire Jack Ma, agreed to buy Hong Kong’s South China Morning Post and other affiliated media assets for HK$2.06 billion ($266 million).

The deal includes the century-old newspaper, outdoor advertising, digital assets and magazines, SCMP Group Ltd. said in a filing Monday. Alibaba last week said it will scrap the publication’s Internet pay wall and that editorial decisions will be made “in the newsroom, not in the corporate boardroom.”…

Alibaba to Buy South China Morning Post for $266 Million

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