Early today, Stand News posted a video on Facebook of police officers at the home of a deputy editor, Ronson Chan, to investigate the alleged crime. Chan, who is also chair of the Hong Kong Journalists Association, was not arrested but was taken away for questioning, according to the South China Morning Post.
The arrests come as authorities crack down on dissent in the semi-autonomous Chinese city. Police charged former newspaper publisher Jimmy Lai with sedition on Tuesday. His Apple Daily newspaper shut down after its assets were frozen.
Stand News earlier this year said it would suspend subscriptions and remove most opinion pieces and columns from its website due to the national security law. Six board members had also resigned from the company.
Benedict Rogers, co-founder and CEO of the non-governmental organisation Hong Kong Watch, said the arrests are "nothing short of an all-out assault on the freedom of the press in Hong Kong."
"When a free press guaranteed by Hong Kong's Basic Law is labelled 'seditious,' it is a symbol of the speed at which this once great, open, international city has descended into little more than a police state," he said.
Today's arrests also followed the removal of sculptures and other artwork from university campuses last week. The works supported democracy and memorialised the victims of China's crackdown on democracy protesters at Beijing's Tiananmen Square in 1989.