Alibaba will sign an agreement to officially purchase Hong Kong’s South China Morning post by December 25, according to Quartz.
Alibaba plans to strengthen its media business through the acquisition of the South China Morning Post, said an insider. Alibaba’s other media holdings including Youku Tudou, and China Business News (CBN).
The source said that the investment was decided on by Alibaba as a company, not by its founder and face Jack Ma. After Alibaba acquires SCMP, the newspaper’s editorial department will continue to operate independently.
SCMP has been around for hundreds of years in Hong Kong. The newspaper holds distribution rights for Cosmopolitan in Hong Kong and a number of other magazines. SCMP also holds a number of shares in the Bangkok Post. It is unclear whether Alibaba will also acquire these assets in the deal.
Source: inews.qq.com
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Keywords: SCMP South China Morning Post Alibaba
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It looks like freedom, fair law, and the rights of people will all be getting coal in their stockings this year.
Dec 12, 2015 17:29 Report Abuse
purpose being to turn it into a lying propaganda machine
Dec 04, 2015 19:31 Report Abuse
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