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Jack Ma of Alibaba in Talks to Buy Hong Kong Newspaper

2015-11-24 3 Dailymotion

Jack Ma, chairman of the Internet giant Alibaba Group, is in talks to buy The South China Morning Post, an influential English-language newspaper based in Hong Kong, according to a person with direct knowledge of the discussions.<br />A deal would echo the purchase of The Washington Post by Amazon's founder, Jeffrey P. Bezos, in 2013, which gave a major media brand substantial backing at a turbulent time for the business.<br />Like Mr. Bezos, Alibaba's founder, Mr. Ma, made his fortune in Internet commerce.<br />Like The Washington Post, The South China Morning Post is struggling to adapt to the changing media environment.<br />And in neither case does the purchase create obvious business advantages for the buyer.<br />It has not yet been decided whether the buyer would be Mr. Ma or Alibaba, the person said on Tuesday.

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