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November 25, 2015

alibaba set to buy hong kongs biggest english newspaper " South China Post"



" Alibaba set to take over South China Post newspaper"

The company which raked up the biggest every online shopping revenues in a single day, Billionaire Jack Ma of alibaba.com is  set to buy a  stake in the South China Morning Post, Hong Kong biggest English language newspaper.

The South China Morning Post( SCMP)  was once the world’s most profitable daily newspaper, had seen its share of bad times, with the stock being suspended since 2013 after its earnings fell by over 25%  and was owned by  media tycoon Rupert Murdoch   who in turn sold it to the "Kerry Group", which is owned by Robert Kuok.

Jack Ma, is considered to be close to the chinese political mandarins,and  has made no secret of his pro-China political views, while running a vast  online business empire with extensive investments on the mainland. The Kerry group has been looking for a buyer and Alibaba's founders close ties to the government would certainly fit the bill, although it’s unlikely to be viewed favorably by readers already sensitive to what they see as increasing signs of the “mainlandization” of Hong Kong. But as the above chart shows.. Who really cares about a loss making newspaper when digital news is witnessing unprecedented traffic