Tag Archives: Alibaba

Alibaba, SCMP Deal Sparks Concern Over Chinese Takeover of Hong Kong Media

2015-12-03

fb5e6b49-0a48-47e3-88ad-4ed9f5eca94aCopies of the South China Morning Post, believed to be a target for a takeover by Chinese Internet tycoon Jack Ma of Alibaba, are displayed for sale at a newsstand in Hong Kong, on Nov. 28, 2015.
AFP

Chinese internet company Alibaba is reportedly in discussions to buy a controlling stake in Hong Kong’s largest English-language newspaper, the South China Morning Post (SCMP), according to a number of recent media reports.

Sources have told Reuters and the Wall Street Journal that a potential deal is in the offing between the paper’s current owner, Malaysian tycoon Robert Kuok and the Chinese e-commerce giant, while Quartz reported on Thursday that a merger agreement will be signed before Christmas.

If confirmed, the deal will mark a further foray by mainland Chinese investors into the Hong Kong media and publishing sector, sparking further fears that Beijing is seeking yet Continue reading