Alibaba buys traditional newspaper company
The Chinese internet company Alibaba is paying 2.06 billion Hong Kong dollars (261 million Swiss francs) for the Hong Kong newspaper South China Morning Post.
The world's largest online trading platform is taking over the entire media business, the newspaper reported on Monday. The purchase of the 112-year-old Hong Kong newspaper by the Chinese group has raised concerns about the independence of the paper, which has been regarded as a critical "window on China" up to now. Although the new owners claim to want to maintain its independence, they would like to see different reporting to that of Western media. Alibaba Vice Chairman Joseph Tsai criticized media that "see China through a particular lens". "Many journalists who work for Western media are likely to disagree with the government system in China and this colors their perspective of reporting," Tsai said. "We see things differently." Describing Alibaba's perspective as the new owner, he said, "China is important. China is a rising economy. It is the second largest economy in the world." The world should learn more about China, he said. "Reporting should be balanced and fair," Tsai said in an interview. (SDA)
