Jack Ma's media assets could come under China's thumb, pressure mounts to sell SCMP

Alibaba Group’s South China Morning Post has entered list of media that could possibly come under thumb of Chinese Communist Party (CCP), as per reports by Bloomberg. While Hong Kong daily h alrey sparked a slew of backlash for its tilt towards Beijing during pro-democracy protests, possible takeover would mean a final nail in coffin of Hong Kong’s free-wheeling media. As per report, main reason behind CCP’s interest in SCMP is its growing influence over public opinion in China. 

As per reports, CCP has been pressuring Jack Ma owned Alibaba Group Holding Ltd. to sell publication to a Chinese state-owned firm since last year. While discussion of takeover began in 2020, re is no specific buyer identified as of now. 

Meanwhile, news has left employees of newspaper concerned. Many of m have shown apprehension about possible end of its editorial independence. Speaking to Bloomberg, Keith Richburg, director of Journalism and Media Studies Center at University of Hong Kong and president of Foreign Correspondents’ Club in Hong Kong said that in case, a Chinese entity takes over, n y would change newspaper’s editorial line. Furrmore, he said that idea that SCMP might be sold at a time when people in Beijing are talking about need for ‘patriots’ to be running media entities is “ very, very concerning.” 

Why does China want to take over?

Chinese officials are alarmed by Alibaba group’s influence over social media in China especially as it holds a major stake in Twitter-like Weibo-China's most popular social networking site. Since taking over SCMP in 2015, Ma has successfully built a sprawling portfolio of media outlets that enjoy colossal influence online. ditionally, y are also upset about its role in an online scandal that involved Jiang Fan, one of its own executives.

In December, Chinese regulators launched anti-monopoly probe of Alibaba Group as CCP is attempting to limit rapidly-growing power of tech industries. Chinese President Xi Jinping’s government reportedly worries about dominance of competitors including Jack Ma’s Alibaba which is now one of world’s biggest companies by sales volume and Tencent Holding which is operator of WeChat messaging service.