Alibaba Group Buys South China Morning Post
Chinese giant in the field of online shopping business Alibaba Group acquired Hong Kong-based newspaper South China Morning Post. The value of the transaction is 266 million dollars. The main language of the media is English, and many believe its content is among the main sources of information about what is happening in the country for foreigners. That’s why Alibaba wants to use it to improve the image of China in the world and offer an alternative to Western media. According to company representatives, they often have biases that prevent them from reporting events in China optimally.
Some skeptics have expressed concern that Alibaba’s management will use the media in its own interest, but the company’s Vice President Joseph Tsai denied this speculations. “In news coverage South China Morning Post will be objective, accurate and fair,” he said. Tsai assured all concerned about the status of the media that it will do everything possible to confirm the stories and their sources and take into account all points of view. Besides the news release, Alibaba took over the leadership of the Chinese editions of Cosmopolitan and Esquire.