Tag Archives: China Business News

MEDIA: Alibaba Moves Into Financial Media With SMG

Bottom line: Alibaba’s new tie-up with SMG could produce a homegrown financial news and information giant drawing on both companies’ strengths, but could also face obstacles due to the 2 partners’ differing backgrounds and styles.

Alibaba buys into SMG financial newspaper

E-commerce titan Alibaba (NYSE: BABA) is taking an interesting new step into the news media realm, with word that it’s investing 1.2 billion yuan ($200 million) in one of China’s leading financial newspapers that is owned by Shanghai Media Group (SMG), the country’s second largest state-owned media company. I’ve watched for the last couple of years as traditional newspapers like SMG’s China Business News, or CBN, have struggled to chart a new path in the digital media age.

For many of these traditional media, that movement has meant putting their content online, and launching a mobile app, but not much more. As a result, many are seeing their revenue shrink as advertisers flock to more dynamic new media, mirroring a trend in the west. In that light, this new Alibaba tie-up could breathe some new life into CBN’s new media push, providing new ideas and other expertise to reverse the newspaper’s decline.

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News Digest: June 4, 2015

The following press releases and media reports about Chinese companies were carried on June 4. To view a full article or story, click on the link next to the headline.
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  • Alibaba (NYSE: BABA) To Invest 1.2 Bln Yuan In Financial Newspaper CBN (Chinese article)
  • BYD (HKEx: 1211) To Raise Up To 15 Bln Yuan Through New A-Share Issue (HKEx announcement)
  • LeTV (Shenzhen: 300104) to Invest HK$6 Bln in Hong Kong TV Market (English article)
  • Ctrip (Nasdaq: CTRP) Says No Longer Wants M&A With Qunar (Nasdaq: QUNR) (PRNewswire)
  • European Business Lobby Slams China’s Draft National Security Law (English article)

MEDIA: Caixin Lawsuit Takes On Pirates At Sina, Sohu

Bottom line: Caixin’s new lawsuit against leading portals Sohu, Sina and Hexun could mark the start of a much-needed clean-up that will end the practice of rampant copyright violations among major Chinese news sites.

Caixin sues Sina, Sohu for illegal copying

I’m giving this week’s special award for bravery to cutting-edge financial news publisher Caixin, which is challenging the widespread illegal copying of copyrighted articles that occurs daily on Chinese news sites. Everyone knows that this kind of piracy is rampant in China, but some might be surprised to learn that companies targeted in Caixin’s new lawsuit include some of China’s top news portals, led by Sina (Nasdaq: SINA) and Sohu (Nasdaq: SOHU). I was also just slightly embarrassed to see that one of the companies being sued is financial news and information site Hexun, which is backed by my former employer Reuters (Toronto: TRI). Read Full Post…

Chinese Media Exposed For Corporate Undermining

China Business News accused of false reporting

Major news items involving shenanigans at 2 of China’s top financial media are shining a spotlight on a phenomenon that doesn’t get much coverage in the west, but which is quite common in China and can often wreak havoc on companies’ stock prices. In one case, police have detained 2 top editors at the 21st Century Business Herald, one of China’s most respected financial newspapers, following an extortion scandal at the company’s website. In the other, leading instant noodle maker Master Kong, owned by Hong Kong-listed Tingyi (HKEx: 322), says it is preparing to sue the similarly prestigious China Business News for false reports that damaged its business. Read Full Post…