Alibaba Agrees to Buy Hong Kong’s South China Morning Post
Alibaba Group Holding, the e-commerce giant headed by billionaire Jack Ma, agreed to buy Hong Kong’s South China Morning Post and other affiliated media assets as the internet tycoon follows in the footsteps of Jeff Bezos in pursuing the revival of a century-old newspaper.
Though financial terms weren’t disclosed, Alibaba said in a statement on Friday that the purchase will include the flagship newspaper and other related businesses including magazine and recruitment.
The Chinese company also 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.”
