![]() The restrictions, which would apply only to domestic investments, come months after concerns were expressed in Beijing about Alibaba’s controversial handling of a scandal involving one of its executives. Last month, the country’s top economic planner unveiled a proposal which aims to bar private capital from news operations. As part of their crackdown, authorities also forced the shuttering of Next Digital Ltd., a newspaper publisher owned by one of the most-prominent activists, Jimmy Lai.Ī sale would also be a further sign of how tech billionaire Jack Ma’s empire is being caught up in a broader tightening of control over China’s media. A deal may not materialize, they said.Īn Alibaba spokesperson said the company is not engaged in discussions with any parties about the sale of SCMP and remains committed to the business.īauhinia and the Liaison Office did not immediately respond to requests for comment.Īny reports suggesting that Alibaba is considering a sale of SCMP are incorrect, Alibaba is fully committed to SCMP’s mission and business goals, and there are no plans for an ownership change, a spokesperson for the newspaper said.Ī takeover of one of Hong Kong’s most influential media outlets by a state-backed company could further inflame tensions in the city, which was wracked by sometimes violent pro-democracy demonstrations until Beijing imposed a national security law last year that allowed the prosecution of many protesters and opposition politicians. It also bolstered its presence in Hong Kong’s media scene in April when it agreed to buy a stake in Phoenix Media Investment Holdings Ltd., owner of local broadcaster Phoenix TV.ĭeliberations are ongoing and other state-backed entities could also consider submitting offers for SCMP, the people said. Keep reading list of 4 items list 1 of 4 China ramps up border checks amid COVID outbreaks list 2 of 4 US predicts China could have 1,000 nuclear warheads by 2030 list 3 of 4 China fires back after Biden slams Xi’s COP26 no-show list 4 of 4 Alibaba’s Jack Ma takes first trip abroad post China crackdown end of listĪlibaba has come under pressure from the Chinese government to divest some of its media assets, including SCMP, Bloomberg News reported in March.Ī sale to Bauhinia would potentially assuage the government’s concerns, as it is fully state owned. ![]()
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