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Alibaba tipped to buy stake in Caixin

The publisher of one of China’s most respected business magazines, Caixin, yesterday said it was seeking new investors following reports e-commerce giant Alibaba plans to take a stake in the company as it looks to expand its media empire.

Alibaba founder Jack Ma is seeking to diversify beyond the core business of providing online retail platforms and in December bought Hong Kong’s English-language newspaper South China Morning Post.

Beijing-based Caixin Media provides financial and business news through its flagship magazine and several other platforms under the editorial leadership of Hu Shuli, who has received international attention for her brand of investigative journalism.

(Source: Shanghai Daily )