Alibaba Group Holding Ltd acquired South China Morning Post (and other media assets of SCMP Group Limited), a transaction announced in December 2015, structured as Definitive agreement to acquire media assets (business/asset acquisition of SCMP Group's media operations).
South China Morning Post (and other media assets of SCMP Group Limited) operates in Media and digital media, is based in Hong Kong. Alibaba Group entered into a definitive agreement to acquire the South China Morning Post, the Hong Kong English-language newspaper, together with the other media assets of SCMP Group Limited. The transaction covered SCMP Group's magazine, recruitment, outdoor media, events and conferences, education and digital media businesses. Alibaba said it intended to use its technology and resources to expand the publication's reach and modernize its digital operations for a global audience.
Extend Alibaba's reach into media and use its technology, resources and scale to broaden the South China Morning Post's global digital readership.
Advisory firms were not disclosed for this transaction.