Alibaba buys Hong Kong's South China Morning Post

December 11, 2015 19:06

Chinese internet giant Alibaba has confirmed it has struck a deal to buy Hong Kong's popular English-language newspaper, the South China Morning Post.The deal also includes licences for the Hong Kong editions of Elle, Cosmopolitan and Harper's Bazaar.Financial terms of the deal were not publicly revealed. SCMP has a market value of 3.04bn Hong Kong dollars

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