[ad_1]
Signage at an Alibaba Group Holding Ltd. office building in Shanghai on December 24.
Photographer: Qilai Shen / Bloomberg
Photographer: Qilai Shen / Bloomberg
Every morning we deliver world news that you want to follow up on before starting your day. Click here to subscribe to the Bloomberg newsletter.
Chinese governmentAlibaba Group Holding wants to sell some of its media assets, including the English Hong Kong newspaper South China Morning Post (SCMP). A person familiar with the situation revealed. He said it was due to growing concerns about Alibaba’s influence on national public opinion.
The Chinese government has held multiple talks until last year, expressing concern over Alibaba’s media assets, according to people familiar with the matter. The official said anonymously because the conversations were private. Government officials are particularly uncomfortable with the company’s influence on China’s social media and the e-commerce scandal involving former executives.
Alibaba downgrades influential executives, insider-stakeholder investigation scandal
Last year, the Chinese government set out to crack down on Alibaba and its fintech company Ant Group, but the main target was Alibaba co-founder Jack Ma.
The Wall Street Journal (WSJ) previously reported on the Chinese government’s request to sell media assets to Alibaba.
China demands that Alibaba Group sell DJ-media assets
Ma and Alibaba have steadily increased their long-term media assets, with current assets ranging from online media such as BuzzFeed, newspapers, television production companies, social media, and advertising. It also has a majority stake in online and print media, such as the Weibo miniblog and SCMP.
Discussions about the SCMP sale began last year, according to people familiar with the matter. The buyer has not been identified, but is expected to become a Chinese company.
Original title:
China Pressures Alibaba to Sell Media Assets Including SCMP （抜 粋）
