Beijing: Alibaba Group Holding Limited has agreed to buy Hong Kong’s flagship English-language newspaper, the South China Morning Post (SCMP), in the most politically sensitive acquisition by the e-commerce giant to date.
Alibaba and SCMP Group Limited announced that the Hangzhou-based company would buy the 112-year-old newspaper and other media properties for an undisclosed amount.
The purchase, which follows a string of media deals by Alibaba, is likely to raise concerns in Hong Kong, where the South China Morning Post occupies an important position among the English-speaking elite who still dominate the former British colony.
Chinese-language dailies may be more influential than the Post, but changes in its editorial direction are seen as a barometer for Press freedom under Chinese rule.
Alibaba has acquired or invested in a growing portfolio of media and content companies in recent years. In June, the company agreed to pay $194 million for an undisclosed stake in the China Business News, the domestic financial media firm.
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