Alibaba to buy South China Morning Post

Chinese e-commerce giant Alibaba Group Holding Ltd said it would buy publisher SCMP Group Ltd's media assets, including the South China Morning Post newspaper. 

PHOTO: REUTERS

DEC 11, 20159:18 PM

[BENGALURU] Chinese e-commerce giant Alibaba Group Holding Ltd said it would buy publisher SCMP Group Ltd's media assets, including the South China Morning Post newspaper.

The deal also includes licenses to several publications, including Hong Kong editions of Elle, Cosmopolitan and Harper's Bazaar.

Financial terms of the deal were not disclosed.

SCMP has a market value of HK$3.04 billion, or US$392 million, according to Thomson Reuters data.

REUTERS