Chinese e-commerce giant Alibaba founder Jack Ma is said to be pursuing a stake in the South China Morning Post, moving the e-commerce company into print media, Bloomberg News reported on Monday.
Bloomberg said discussions with Ma were at “an advanced stage”, quoting unidentified sources familiar with the matter.
A signing ceremony is expected to be revealed soon.
Should the deal go ahead, Ma would become the latest internet tycoon to step into the traditional media business.
SCMP Group and Alibaba both declined to comment, the report said.
Asked whether he was interested in buying the 112-year-old newspaper earlier this month, Ma said he was “watching a lot of companies”, but did not go into specifics.
Earlier this month, China Daily first reported that Alibaba was in discussions to acquire SCMP Group.
Marketing has reached out to two companies for comment.
The South China Morning Post, founded in 1903 and the city’s main English-language paper, was once the world’s most profitable newspaper on a per reader basis.