HONG KONG (AP) — Chinese e-commerce giant Alibaba says it is buying Hong Kong’s leading English-language newspaper, the South China Morning Post.
Alibaba Group said late Friday that it signed a deal with publisher SCMP Group to buy the Post and the company’s other media assets, which include magazines, outdoor advertising and digital media.
The newspaper said in a story on its website that the purchase price is not being disclosed.
It is the latest media-related acquisition for Alibaba and gives control of Hong Kong’s most prominent English-language publication to a mainland Chinese company.
The deal is part of Alibaba’s strategy of diversifying away from its core Internet shopping business by tapping rising demand for online content from Chinese consumers.
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