Alibaba Group has acquired a newspaper

Alibaba

Jack Ma’s Alibaba Group has acquired the South China Morning Post, pledging to use the English-language newspaper to counter “negative” portrayals of China overseas. The acquisition — Alibaba’s first media investment outside of mainland China — echoes the purchase of the Washington Post by Amazon founder Jeff Bezos in 2012. Although that investment was made by Mr Bezos personally, Amazon has since integrated the Washington Post into some of its offerings. Alibaba did not disclose the price that it is paying for the SCMP… The SCMP had a daily print and digital circulation of 102,000 last year, and claims to be the most read newspaper among Hong Kong’s business elite… Alibaba’s media interests include film production, video streaming and a $194 miliion investment in financial media company, China Business News.

 

Henry Mance and Henny Sender

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