Hong Kong’s most globally visible and popular English language newspaper South China Morning Post could come under Chinese government control , as within the past days it’s emerged that its owner Alibaba Group is in talks with Bauhinia Culture Holdings, a Chinese state-backed firm.
The talks which were widely reported at the end of this past week are secretive, with an Alibaba spokesperson later denying that there’s any intent of a sale . SCMP’s CEO Gary Liu and the media organization’s co-founder Joe Tsai sent a letter to employees after the reporting which originated in Bloomberg saying there are currently no plans for a change in ownership, denying the story. Alibaba acquired SCMP in 2015 for Alibaba for $266 million. But it’s well-known that Alibaba has of late come under intense pressure from the Chinese government over a number of its media assets, also amid Jack Ma’s own muzzling by […]
Read the rest of this story here: www.zerohedge.com
