Monday, December 14, 2015

Alibaba Group Acquires SCMP Group

Alibaba Group this week has acquired South China Morning Post and other media assets of SCMP Group Limited. Financial terms of the deal were not disclosed. The deal will combine Alibaba’s massive online reach and digital strength with SCMP’s editorial excellence, paving the way for the 100-year-old newspaper to transform into a global media powerhouse covering China for readers around the world.

Joe Tsai, Executive Vice Chairman of Alibaba Group, said in a statement: “The South China Morning Post is unique because it focuses on coverage of China in the English language. This is a proposition that is in high demand by readers around the world who care to understand the world’s second largest economy”, and also added that: “Our vision is to expand the SCMP’s readership globally through digital distribution and easier access to content.”

Robin Hu, Chief Executive Officer of SMCP, said in a statement: “With proven expertise especially in mobile Internet, Alibaba is in an excellent position to leverage technology to create content more efficiently and reach a global audience”, and also added that: “We welcome Alibaba’s commitment to invest additional resources in its editorial and business operations to make the SCMP even stronger.”

Apart from the Groups' flagship publication the South China Morning Post newspaper, the SMCP deal also includes the acquisition of the magazine, recruitment, outdoor media, events & conferences, and digital media businesses of SCMP Group Limited. The deal also includes a portfolio of magazine titles, which include the Hong Kong editions of Esquire, Elle, Cosmopolitan, The PEAK and Harper’s Bazaar, and other SMCP titles including the Sunday Morning Post, its digital platforms and related mobile apps, and two Chinese websites and

Founded in 1999 by Jack Ma and headquartered in Hangzhou, China Alibaba Group is a Chinese ecommerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. In addition to its ecommerce business, Alibaba also provides electronic payment services Alipay, an online travel service platform Alitrip, and data-centric cloud services AliCloud.Alibaba is the largest online and mobile commerce company in the world in terms of gross merchandise volume.

Founded in 1903, SMCP Group is a publishing group based in Hongkong. SMCP’s flagship publication is the South China Morning Post, a daily English-language newspaper in Hongkong with a circulation of 104,000.Other subsidiaries included Coastline International Limited, Mai Xin Advertising Communications Co., Ltd., Recruitment Consulting Networks Limited, SMCP Magazines Publishing, and Lyton Investment Limited. First published on November 1903, the South China Morning Post is one of the leading English-language newspapers in Asia. 

Image credit: Mashable

No comments:

Introducing A Great Place To Find A Job

The marketplace where tech companies compete to hire you. Meet 5 to 15 top companies in one week with salary info upfront. You’re in demand. Shouldn’t companies you love come to you with offers upfront? We think so. That’s why Hired is changing the way you find your next job with a faster, more transparent job search process built specifically for Python Programmers, RoR Developers, Java Programmers, Software Engineers, Big Data Scientists, Data Scientists, DevOps, UI/UX Designers, Product Managers, and Web Developers.

Hired is the first two-sided marketplace created specifically for Engineers, Data Scientists, Designers and Product Managers who are overwhelmed with job opportunities.

We believe recruiting should be transparent, unbiased, and that the talent should be in control. Our one week “auctions” provide upfront offers from vetted and funded companies, dedicated talent advocates, and a $2,000 signing bonus.

Our mission is to make hiring, or getting hired, less painful. A Whole New Recruiting Model.


Learn More: GET HIRED!
What is managed cloud? Managed cloud lets you tap the power of the cloud for your strategic business goals without the frustration, cost, and time of managing it yourself.

Learn more about Managed Cloud and Rackspace the #1 managed cloud company
 —empowering you to move beyond the limitations of do-it-yourself cloud with the support of thousands of expert engineers. 

VMware: Virtualizing the Entire Data Center

Virtualizing the Entire Data Center by: VMware, The World's Leader in Virtualization and Cloud Infrastructure

VMware vSphere Essentials delivers the industry-leading virtualization platform for small businesses at an affordable price. Small businesses can virtualize their physical servers and centrally manage these servers, reducing hardware costs and increasing operating efficiency with a low upfront investment.
Provides cost-effective server consolidation and management for small offices

Learn more about the VMware vSphere Essentials