Alibaba CEO Jack Ma wants to acquire Hong Kong newspaper | RetailDetail

Alibaba CEO Jack Ma wants to acquire Hong Kong newspaper

Alibaba CEO Jack Ma wants to acquire Hong Kong newspaper

Alibaba's founder, the immensely wealthy Jack Ma, wants to acquire SCMP Group Ltd., the owner of several publications like the Hong Kong-focused South China Morning Post.

On the trail of Amazon's Jeff Bezos

The South China Morning Post is an English paper, which has been around for 112 years and which is made in Hong Kong. Similarly to other newspapers worldwide, SCMP is struggling to deal with the arrival of the internet, which has had detrimental effects on its readership and ad income.


Malaysian billionaire Robert Kuok currently owns SCMP Group Ltd., after buying it from Rupert Murdoch in 1993. It is not clear what the founder of China's largest online company wants with the publisher that also has several magazines and other publications. Insiders have told financial press agency Bloomberg that the deal will be finalized in the next few days. Only then will we know what Jack Ma's stake will be.


He will become the third well-known internet billionaire to step into the media industry, following Chris Hughes (one of Facebook's co-founders) who bought a majority stake in New Republic back in 2012. Jeff Bezos, known for his position at internet department store Amazon, also bought a newspaper, the Washington post, in 2013.

Questions or comments? Please feel free to contact the editors

The end of the retail employee


For the first time it’s safe to say that the future of work is really fabricated by futuristic events. People will need to become just as versatile as AI technologies and blockchain applications. Are you ready?

Alibaba doubles Lazada investment


Chinese Alibaba will once again invest 2 billion dollars (1.6 billion euro) into e-commerce company Lazada, active in Southeast Asia. It invested a similar sum in the group about two years ago.

CK Hutchison owner steps down


Li Ka-shing, CK Hutchinson’s owner and CEO, will step aside mid-May. The 89-year old will then pass on the baton to his eldest son, Victor Li, who will then take control of chains like Kruidvat and ICI Paris XL.

Toys ‘R’ Us goes bankrupt


The definitive end is approaching for the former toy store giant, Toys “R” Us. After the death sentence was signed for its 100 British stores, its American store network will also shut down.

Unilever chooses Rotterdam


The long-standing rumour has now been confirmed: Unilever will have its main office in Rotterdam, rather than London. The food and detergent giant’s board has made the call after nearly a year of debate.

Claire’s edges closes to bankruptcy


Store chain Claire’s is allegedly preparing to shut down in the next few weeks. Following that, the current owner, Apollo Global Management would give the company to several debtors.

Back to top