Alibaba Group Acquires SCMP for HK$2.06 billion

Posted by Joachim Bartels | Dec 24, 2015 | Alibaba, China, Digital Media, E-Commerce, Hong Kong, Ownership Changes of Information Companies, Uncategorized | 0 |

Alibaba Group has entered into a definite agreement to acquire the South China Morning Post (SCMP). The agreement also includes acquisition of the magazine, recruitment, outdoor media, events & conferences, education and digital media businesses of SCMP Group Limited (SEHK: 0583). Alibaba has agreed to pay HK$2.06 billion (US$266 million) for SCMP Group for the SCMP and all other media assets.

Apart from SCMP and SCMP.com, the group also owns two Chinese websites, Nanzao.com and Nanzaozhinan.com, and a portfolio of magazine titles which includes the Hong Kong editions of Esquire, Elle, Cosmopolitan, The PEAK and Harper’s Bazaar.

Source: Business Strategies Group Hong Kong – www.bsgasia.com

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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