Chinese Internet giant Alibaba said on Friday it would buy Hong Kong’s South China Morning Post, pledging to maintain the newspaper’s objectivity in the face of fears it will lose its independent voic
Chinese Internet giant Alibaba said on Friday it would buy Hong Kong’s South China Morning Post, pledging to maintain the newspaper’s objectivity in the face of fears it will lose its independent voice.
The acquisition follows weeks of speculation over the future of the English-language newspaper and worry that it will become a mouthpiece for Beijing.
It comes at a time when concern over press freedom in Hong Kong is growing after attacks on journalists, reports of pressure on editorial staff from authorities and increasing self-censorship.
“(Alibaba) has entered into a definite agreement to acquire the South China Morning Post (SCMP) and other media assets of SCMP Group Limited,” the Chinese firm said in a statement, without specifying a sum.
It said the sale would see Alibaba use its “digital expertise” to provide “comprehensive and insightful news and analysis of the big stories in Hong Kong and China”.
The once globally renowned paper was founded in 1903 and has long given international readers an insider’s perspective on Hong Kong and the mainland, but profits and sales have in recent years been hit by an industry-wide decline.
Readers’ trust has also dipped as a more pro-Beijing editorial policy has not gone unnoticed in a city that saw tens of thousands take to the streets in 2014 to protest against mainland interference.
In a letter to the newspaper’s readers following the announcement of the sale, Alibaba executive vice-chairman Joe Tsai vowed the SCMP would be “objective, accurate and fair” and have “the cour-age to go against conventional wisdom”.
