Alibaba Buys South China Morning Post for $266 Million

Bloomberg: Alibaba, the e-commerce giant headed by billionaire Jack Ma, has agreed to buy Hong Kong’s South China Morning Post and other affiliated media assets for HK$2.06 billion ($266 million). The deal includes the century-old newspaper, outdoor advertising, digital assets and magazines. Alibaba last week said it will scrap the publication’s Internet paywall and that editorial decisions will be made “in the newsroom.”