Alibaba Refuses to Sell the South China Morning Post
In a surprising move, Alibaba has firmly ruled out any plans to hand over Hong Kong’s South China Morning Post (SYP) to a third party. The announcement comes after a Bloomberg article hinted that a state‑owned Chinese firm might be eyeing the newspaper’s sale.
What James “Joe” Tsai (Alibaba Co‑founder) Said
Joe Tsai, who sits on SYP’s board, was quoted by a letter he forwarded to the paper’s staff. In the letter, Gary Liu, SYP’s chief executive, explained that Tsai wanted the message to be clear: “There are no plans for a change in ownership. No rumours, no speculation.”
State‑Owned Firms Got Their Eyes on SYP
- Bauhinia Culture (Hong Kong) Holdings Ltd was reportedly drafting an offer that could bring the 118‑year‑old English‑language daily under its meta‑media umbrella.
- Other state‑backed entities may also try to pitch a takeover—though whether a deal actually takes shape remains uncertain.
SYP’s Response
The newspaper’s spokesperson dismissed any rumors of Alibaba towing a sale, calling them “incorrect.” They stuck to the facts: no negotiation has begun and the paper remains under Alibaba’s control.
Why Is This Story a Big Deal?
Alibaba’s 2015 purchase of SYP was already a political hot‑button issue. The paper has often been seen as a barometer for press freedom in China. Consequently, a potential sale sparks fresh concerns about editorial independence and the broader media landscape—especially under Beijing’s tightening grip.
Past Triggers
Alibaba has faced government pressure to sell off certain media assets, including SYP. The tug‑of‑war has raged since Jack Ma was criticised for voicing criticism of China’s financial regulators last year.
In short, Alibaba’s “no‑sale” stance signals a temporary reprieve, but the future remains a moving target as state‑backed firms keep their eyes on the news giant’s prized publication.
