Hong Kong English-language newspaper SCMP, Chinese government push for acquisition

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A Chinese state-owned company is seeking to acquire the South China Morning Post, Hong Kong’s most prestigious English-language newspaper, Bloomberg News reported.

The Korean news agency, citing an official, reported on the 5th that “Bauhinia Culture Hong Kong Group Co., Ltd. owned by the Chinese government is pursuing the acquisition of the South China Morning Post.”

“According to the Hong Kong government data in March, the Chinese government’s liaison office in Hong Kong owns the Bauhinia Cultural Hong Kong Group Co., Ltd. through the Hong Kong publishing group Union Publishing Group Co., Ltd.,” he said. He explained that he was from management.

Earlier, in May, the agency acquired Hong Kong’s largest satellite broadcaster, Phoenix TV.

At the time, the Hong Kong Myungbo reported on this and analyzed that “the Chinese government’s plan to establish a culture-oriented company in Hong Kong has been caught”.

Hong Kong’s South China Morning Post and the newspaper’s largest shareholder, Alibaba, denied the report.

An Alibaba spokesperson told Bloomberg that there are no plans to change owners of the paper.

Reuters also reported that Alibaba co-founder Joe Tsai said he had “no plans for any changes” in an internal memo sent to a South China Morning Post employee.

Founded in 1903, the Hong Kong South China Morning Post once established a reputation as the world’s highest yielding media by running large job advertisements for companies in the booming Hong Kong economy.

(Photo = Hong Kong South China Morning Post capture, Yonhap News)

Reference-news.sbs.co.kr

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