{"id":235658,"date":"2021-11-09T16:31:22","date_gmt":"2021-11-10T00:31:22","guid":{"rendered":"https:\/\/chinadigitaltimes.net\/?p=235658"},"modified":"2021-11-15T19:28:36","modified_gmt":"2021-11-16T03:28:36","slug":"mooted-scmp-ownership-change-death-of-southern-weekly-founder-and-journalists-day-with-chinese-characteristics","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2021\/11\/mooted-scmp-ownership-change-death-of-southern-weekly-founder-and-journalists-day-with-chinese-characteristics\/","title":{"rendered":"Mooted SCMP Ownership Change, Death of Southern Weekly Founder, and Journalists’ Day with Chinese Characteristics"},"content":{"rendered":"

The South China Morning Post (SCMP), Hong Kong\u2019s <\/span>118-year-old<\/span><\/a> English-language newspaper of record, may change ownership from private to public hands, according to anonymous sources who spoke with Bloomberg. While the SCMP leadership has <\/span>denied these reports<\/span><\/a>, rumors have been growing over the past year that the current owner, Alibaba, will sell its majority stake in SCMP to a Chinese state-owned enterprise. The Chinese government\u2019s crackdown on the tech and media industries, and on Alibaba in particular, portends this divestment and potentially greater constraints on SCMP\u2019s editorial freedom. Bloomberg reported on the <\/span>recent discussions of Alibaba\u2019s divestment from SCMP<\/strong><\/a>:<\/span><\/p>\n

A company owned by the Chinese government is working on an offer to acquire Hong Kong\u2019s influential South China Morning Post, according to people familiar with the matter.<\/span><\/p>\n

Bauhinia Culture (Hong Kong) Holdings Ltd. is interested in a deal with Alibaba Group Holding Ltd. that would see the city\u2019s most prominent English-language newspaper join its stable of media properties, the people said, asking not to be identified as the information is private.\u00a0<\/span><\/p>\n

[…] A sale to Bauhinia would potentially assuage the government\u2019s concerns, as it is fully state owned. It also bolstered its presence in Hong Kong\u2019s media scene in April when it agreed to buy a stake in Phoenix Media Investment Holdings Ltd., owner of local broadcaster Phoenix TV.\u00a0<\/span><\/p>\n

Deliberations are ongoing and other state-backed entities could also consider submitting offers for SCMP, the people said. A deal may not materialize, they said. [<\/span>Source<\/strong><\/a>]<\/span><\/p><\/blockquote>\n

Reuters later reported that the <\/span>SCMP leadership strongly denied allegations of an impending change in ownership<\/strong><\/a>:\u00a0<\/span><\/p>\n

Alibaba has no plans to sell Hong Kong’s South China Morning Post (SCMP), the e-commerce giant’s co-founder Joe Tsai was quoted as saying in a letter to SCMP staff seen by Reuters, following a Bloomberg News report that a Chinese government-owned firm was weighing up an offer to buy the paper.<\/span><\/p>\n

SCMP’s CEO Gary Liu said in the letter that Joe Tsai, Alibaba’s co-founder and SCMP’s chairman, had asked him to pass on a message that there were no plans for a change in ownership.<\/span><\/p>\n

“There has never been any discussion about SCMP’s ownership, and Alibaba has no plans for any change. There’s no basis for any rumor or speculation,” Liu quoted Tsai as saying. [<\/span>Source<\/strong><\/a>]<\/span><\/p><\/blockquote>\n

\n

Gary Liu, SCMP CEO, not super happy about this Bloomberg story according to an internal staff email. Also includes note for Alibaba\u2019s Joe Tsai who says there have never been discussions about the paper\u2019s ownership. https:\/\/t.co\/A3gq6wG2h5<\/a> pic.twitter.com\/RoaV3vtdfi<\/a><\/p>\n

— Timothy McLaughlin (@TMclaughlin3) November 5, 2021<\/a><\/p><\/blockquote>\n