Jack Ma, China’s second richest man according to the Forbes list of billionaires, is an e-commerce magnate, the owner of several entertainment companies, and now an English media mogul.
On Dec. 11, Ma’s Alibaba Group purchased the South China Morning Post (SCMP) and its media assets for $266 million.
Before the official announcement, rumors of the takeover of the 112-year-old English-language Hong Kong daily—a paper with a history and a pedigree of award-winning coverage on China and the region—had been hotly debated in Hong Kong.
The purchase is being greeted with skepticism because of the assumed close ties between Alibaba and Chinese officialdom. In China, it is difficult, if not impossible, to become a billionaire without the tacit blessing of Communist Party officials.
