HONG KONG (AP) – Chinese e-commerce giant Alibaba is in talks to buy Hong Kong’s leading English language newspaper, the South China Morning Post, a person with knowledge of the potential deal said Thursday.
The person, who spoke on condition of anonymity because the talks were ongoing, said Alibaba is interested in acquiring the newspaper and its related businesses.
The Post’s publisher, SCMP Group, said in a stock exchange filing late Wednesday that it was considering an offer, but did not name the possible buyer. It said it has received a “preliminary approach from a third party” for a possible purchase of its media assets.
The company said the discussions are at a “very early stage” and terms of a deal are subject to “regulatory review.”
In a front-page story, the newspaper noted the “intense speculation” that Alibaba’s billionaire founder and chairman, Jack Ma, was in talks to buy the company’s media businesses, which also include magazines, advertising and custom publishing.