E-commerce tycoon Jack Ma investing in media

5/23/2016 7:08:33 AM

E-commerce tycoon Jack Ma and founder of the Chinese online retailer Alibaba is on his way to becoming China’s media mogul as well. After making headlines in December for buying the South China Morning Post, Jack Ma has set his eyes on Caixin magazine.

According to a BBC reports, Ma may become ‘China’s Rupert Murdoch’. After paying $266m for Hong Kong's oldest English-language newspaper The South China Morning Post, Ma is now reportedly seeking to purchase an undisclosed stake in one of China's most-respected business magazines, Caixin. The magazine could become part of a rapidly growing media empire.

In the past three years, Ma has acquired stakes in newspapers and online platforms, including Business Review, China Business Network and China's largest video-sharing site, Youku Tudou. He has also invested in social media products like Momo, one of China's most popular dating apps, and Sina Weibo, the country's largest social media outlet. In 2014, China’s most famous entrepreneur bought up ChinaVision Media (since renamed Alibaba Pictures). In 2015 he spent $382m to become the second-largest shareholder in Beijing Enlight Media.

Further reading on BBC.com

Image by Caixin

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