- Alibaba Group Holding Ltd (NYSE:BABA) owned South China Morning Post is on a CEO hunt, Bloomberg reports.
- The move coincided with Alibaba weighing options for media assets, including SCMP.
- Alibaba dedicated SCMP chief Gary Liu to running a spinoff to turn artwork into non-fungible tokens.
- Also Read: Alibaba Launches New NFT Marketplace: What You Need To Know
- Liu will run SCMP pending the appointment of a new chief.
- Bauhinia Culture (Hong Kong) Holdings Ltd had expressed interest in acquiring SCMP, while Alibaba clarified that it did not look to sell its most vital media property.
- In 2021, China’s top economic planner proposed to bar private capital from news operations following Alibaba’s controversial handling of a scandal involving one of its executives.
- Price Action: BABA shares traded higher by 24.3% at $95.42 on the last check Wednesday.
