The South China Morning Post has become the latest commodity to change hands, courtesy of Alibaba.
The world's largest e-commerce company acquired Hong Kong's largest English-language circulated daily newspaper and associated media assets from the SCMP Group for an undisclosed sum on Friday.
“The agreement combines the heritage and editorial excellence of the SCMP with Alibaba’s digital expertise to provide comprehensive and insightful news and analysis of the big stories in Hong Kong and China,” according to a press release on the SCMP's website.
In other words, Alibaba wants to own a platform to deliver more news about its home market. For...