ablibaba news and archive

Alibaba to pay 266 million US dollars for Hong Kong's SCMP newspaper

Chinese Internet giant Alibaba will pay 266 million US dollars for Hong Kong's South China Morning Post, the newspaper said Monday, far higher than analysts' estimates in a deal that has sparked fears the paper will lose its independent voice. The business had been valued at half that amount, and some observers said the hefty price tag reflects...

Business

Alibaba to buy South China Morning Post

Chinese internet giant Alibaba said Friday it would buy Hong Kong's South China Morning Post, following weeks of speculation over the future of the English-language newspaper. "(Alibaba) has entered into a definite agreement to acquire the South China Morning Post (SCMP) and other media assets of SCMP Group Limited," the Chinese firm said in a...