China asks Alibaba to thin out its meaty media portfolio

The Chinese government has asked Alibaba Group Holding Ltd to dispose of its media assets, as officials grow more concerned about the technology giant’s sway over public opinion in the country, reported Wall Street Journal. Since early this year, discussions over the matter have been held after Chinese regulators reviewed a list of media assets owned by the Hangzhoubased company. Officials were appalled at how expansive Alibaba’s media interests have become and asked the company to come up with a plan to curtail its media holdings substantially. Billionaire founder Jack Ma has grown a portfolio of media assets that span print, broadcast, digital, social media and advertising.