Ecommerce major Alibaba announced its deal with Kuok family to acquire the South China Morning Post (SCMP) and other media assets of SCMP Group.
Following the acquisition, content of SCMP.com, the digital version, will be free on the Internet and mobile device.
The ecommerce giant will bring more editorial team members. Editorial will not be biased and the team Alibaba will not influence the editorial decisions.
Alibaba will leverage technology to create more content and reach a global audience. The print and digital editions of South China Morning Post focus on coverage of China in the English language.
Joe Tsai, executive vice chairman of Alibaba Group, said: “Our vision is to expand the SCMP’s readership globally through digital distribution and easier access to content.”
Alibaba will add South China Morning Post newspaper, the magazine, recruitment, outdoor media, events & conferences, education and digital media businesses of SCMP Group.
Besides the newspaper, other SCMP titles include the Sunday Morning Post, its digital platforms SCMP.com and related mobile apps, and the two Chinese websites Nanzao.com and Nanzaozhinan.com. The acquisition also includes magazine titles including the Hong Kong editions of Esquire, Elle, Cosmopolitan, The PEAK and Harper’s Bazaar.