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Alibaba to buy South China Morning Post

Jack Ma speaking at the 2015 CGI Annual Meeting in New York.
Adam Jeffery | CNBC
Jack Ma speaking at the 2015 CGI Annual Meeting in New York.

Chinese e-commerce giant Alibaba Group Holding said it would buy publisher SCMP Group's media assets, including the South China Morning Post newspaper.

The deal also includes licenses to several publications, including Hong Kong editions of Elle, Cosmopolitan and Harper's Bazaar.

Financial terms of the deal were not disclosed.

SCMP has a market value of HK$3.04 billion, or $392 million, according to Thomson Reuters data.

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