Alibaba Okays $266 Million Acquisition of South China Morning Post

Alibaba is all set to acquire the South China Morning Post and media assets of the group at a disclosed amount of $266 million. SCMP Group has cited the reason of sale as “uncertain future”, whereas Alibaba announced that this acquisition will help them unlock great value out of the business.

This deal has raised many objections by certain groups as they feel that it will curb editorial independence, however Alibaba’s senior management has confirmed that the group will not compromise the editorial independence of the readers. There is no certainty yet about the retention of existing staff at SCMP.


South China Morning Post is a 112 year old newspaper which was controlled till now by Malaysian tycoon Rober Kuok and will now be transferred to Alibaba’s founder Jack Ma.

SCMP is considered as sensitive in mainland China as it reports on prevalent issues and topics of the regions, besides the fact that many international media websites are blocked in this part of the world.

If you enjoyed this post, please consider sharing the word!

You might also like

Kik Raises $50M From Tencent Making a Total of $120.5M So Far
Kik, the Canadian company behind the messaging app “Kik” is backed with $50M worth of funding from...
5 Cleaning Services Startups to Watch in 2017
Cleaning services is a business hotspot in big cities, and so there’s a huge market for small scale...
Endurance Acquires Constant Contact For $1.1 Billion
Constant Contact is said to be acquired by Endurance International Group Holdings Inc. According to Reuters,...
CloudFlare with $110 Million Round Hints IPO Next Year
CloudFlare has announced a $110 million round led by Fidelity Investments and according to experts whenever...

Other Interesting Posts in the Category

Some Older Posts That You May Like