Alibaba to Buy South China Morning Post for $266 MillionBy
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.”…
Leave a Reply
You must be logged in to post a comment.