SCMP deal joins Alibaba’s me­dia group

China Daily (Canada) - - NEWS CAPSULE -

Alibaba Group Hold­ing Ltd’s head­line-grab­bing HK$2.06 bil­lion ($266 mil­lion) deal to ac­quire the me­dia as­sets of SCMP Group, in­clud­ing the South China Morn­ing Post, is prob­a­bly just an­other step in its quest to build a me­dia em­pire, Hong Kong-based an­a­lysts said.

“The SCMP ac­qui­si­tion is just one of the build­ing blocks, if not a vi­tal one, for Alibaba’s grow­ing me­dia em­pire and ecosys­tem,” said Hanna Li Wai­han, a strate­gist at UOB Kay Hian (Hong Kong) Ltd. “(Alibaba founder-chair­man) Jack Ma him­self has long taken a keen per­sonal in­ter­est in me­dia as­sets, given the e-commerce be­he­moth’s fruit­ful track record of buy­ing me­dia prop­er­ties.”

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