Alibaba to buy South China Morning Post for €242 million

The deal includes the century-old newspaper, outdoor advertising, digital assets and magazines

14th December, 2015
Alibaba is buying the 100-year old South China Morning Post

Alibaba, the e-commerce giant headed by billionaire Jack Ma, agreed to buy Hong Kong’s South China Morning Post and other affiliated media assets for HK$2.06 billion (€242 million).

The deal includes the century-old newspaper, outdoor advertising, digital assets and magazines, SCMP Group said in a filing on Monday. Alibaba last week said it will scrap the publication’s internet pay wall and that editorial decisions will be made “in the newsroom, not in the...

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