China asks Alibaba to curtail media assets - WSJ

Reuters2021-03-15

March 15 (Reuters) - China's government has asked Alibaba Group Holding Ltd to dispose of its media assets, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Discussions over the matter have been held since early this year, the report said, adding that officials were shocked at how expansive Alibaba's media interests have become. ()

The company, whose mainstay business is online retail, has stakes in the Twitter-like Weibo platform and several news outlets including the South China Morning Post.

Such influence is seen as posing serious challenges to the Chinese Communist Party and its own powerful propaganda apparatus, the Journal's sources were quoted as saying.

Alibaba did not immediately respond to Reuters' request for comment.

(Reporting by Akanksha Rana in Bengaluru; Editing by Ramakrishnan M.)

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Comments

Venus888
2021-03-17
Venus888
Hope is temporarily & price will rise
w8w8
2021-03-15
w8w8
Time to cull this alibaba
- HengKuan:
  like
Kiteflying
2021-03-15
Kiteflying
Standing target for the Chinese government
- PJoo:
  Hold or Sell $Alibaba(BABA)$?
dave21
2021-03-15
dave21
[強]
chelvi
2021-03-15
chelvi
Share
- EchoWafflez:
  nice
chelvi
2021-03-15
chelvi
Good

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