Chinese Cloud Company Alibaba Acquires South China Morning Post Newspaper
Chinese cloud company Alibaba has acquired the South China Morning Post (SCMP) - a newspaper recognized as being Hong Kong's best daily. Although financial aspects of the deal were not released, it was revealed that Alibaba is now in full control of the newspaper as well as a number of related fashion magazines.
News of the acquisition has raised some eyebrows. SCMP, which has previously been vocal in its criticism of mainland China, is now in the hands of a fully-fledged Chinese company which does a significant amount of business with Chinese government entities. Alibaba has committed to SCMP’s independence, but at a time when many perceive mainland China as eroding Hong Kong’s democratic aspirations, some have suggested that being in the hands of a company that is careful to maintain the status quo, SCMP’s independence is likely to be eroded.
“The South China Morning Post is unique because it focuses on coverage of China in the English language,” explained Joe Tsai, the Executive Vice Chairman of Alibaba Group. “This is a proposition that is in high demand by readers around the world who care to understand the world’s second largest economy. Our vision is to expand the SCMP’s readership globally through digital distribution and easier access to content.”
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