Alibaba Confirms It Is Buying The South China Morning Post For $262M

 Alibaba has jumped into the news business after the Chinese company confirmed on Friday that it has agreed to acquire the South China Morning Post (SCMP). The Hong Kong-based newspaper and SCMP Group’s other assets, which includes local editions of Esquire and Elle, will cost Alibaba a little over HK$2 billion — around US$262 million — according to a regulatory filing. Read More