News: China asks Alibaba to curtail media assets: WSJ.
(Reuters) – China’s government has asked Alibaba Group Holding Ltd to divest its media assets, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Discussions on the matter have been going on since the beginning of this year, the report says. The officials are shocked at how widespread Alibaba’s media interests have become.
The company whose main business is online trading is at the Twitter-like Weibo platform and several news outlets, including the South China Morning Post.
Such influence is seen as a serious challenge to the Chinese Communist Party and its own powerful propaganda machine, the journal’s sources said.
Alibaba did not immediately respond to Reuters’ request for comment.
Reporting from Akanksha Rana in Bengaluru; Editing by Ramakrishnan M.
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