Subscribe free to our newsletters via your
. Energy News .

Chinese tycoon says he is in talks to buy New York Times
by Staff Writers
Beijing (AFP) Dec 31, 2013

First he handed out cash to victims of China's 2008 earthquake. Then he sold "canned fresh air" to residents of smog-ridden Beijing.

Now Chen Guangbiao, listed as one of China's 400 richest people and a man known as much for his publicity stunts as his wealth, claims he is in talks to buy the New York Times.

"Soon, I will go to America to do three things," Chen told a crowd Monday night at a news media award reception in the southern Chinese boom town of Shenzhen, according to the semi-official China News Service.

The first, he said, "is to go discuss the acquisition of the New York Times".

Asked later to elaborate on his plans, Chen simply told reporters "the negotiation is currently underway".

However, the publisher of the New York Times has previously denied it is up for sale.

"After a week in which both The Boston Globe and The Washington Post were purchased by new owners, the publisher of The New York Times emphatically declared ... that the publication was not for sale," the paper reported Arthur Sulzberger, who is also chairman of The New York Times Company, as saying in a statement in August.

Chen built his fortune, estimated at five billion yuan ($825 million) by Chinese wealth publisher the Hurun Report, on a recycling company, Huangpu Renewable Resources Utilisation Group, but he has been derided by critics as a publicity hound who will go to great lengths for attention.

After anti-Japanese protests erupted in cities across China last year, Chen spent nearly $800,000 on dozens of Chinese-made cars to give to people whose Japanese-brand cars were damaged.

Days ago, he posed in front of a wall made out of thousands of "bricks" made of banknotes.

But Chen has also won acclaim within China for his charitable giving. He has been honoured as China's top philanthropist and has pledged to leave his entire fortune to charity after his death.

According to previous media reports, Chen spent $30,000 on an advertisement in the New York Times in 2012 asserting Beijing's territorial claim over a disputed group of East China Sea islands called Diaoyu in China and Senkaku in Japan.

Chen's son ran another advertisement on the issue this August, and later that month Chen himself ran an ad in the paper calling on Japan's prime minister, Shinzo Abe, not to visit the controversial Yasukuni war shrine in Tokyo. Abe did so last week.

The New York Times published a report in 2012 detailing the vast wealth of former Chinese prime minister Wen Jiabao's family and its website has since been blocked in China, while several of its reporters have been unable to obtain visas to join its team on the mainland.

Chen's claim to be in talks to purchase the New York Times comes months after another renowned American newspaper, the Washington Post, was bought by Amazon founder Jeff Bezos.

Carlos Slim, a Mexican telecoms czar who is ranked by business magazine Forbes as the wealthiest man on the planet, loaned the Times $250 million in 2009 "to help the newspaper company finance its businesses," the paper reported.


Related Links
Global Trade News

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Rusal starts legal case against London Metal Exchange
London (AFP) Dec 24, 2013
Rusal, the world's largest aluminium producer, has triggered a judicial review of plans by the London Metal Exchange to reform how it stockpiles commodities, the LME's owner said on Tuesday. Russian company Rusal filed a claim in the English High Court on Monday, the Hong Kong Stock Exchange said in a statement. The Hong Kong bourse last year bought the LME, which is the world's biggest meta ... read more

United Nations Proclaims "International Year Of Light" In 2015

Brazil's Vale revamps power generation investments

EU probes Germany energy price breaks for business

Ukraine's Two New Energy Deals

Shell New Zealand to drill in Great South Basin

Abe to offer help in Africa tour as Ethiopia hopes for trade

India urges Asian unity for fair LNG pricing

Canada PM predicts Keystone pipeline 'will proceed'

Researchers Find Ways To Minimize Power Grid Disruptions From Wind Power

Bolivia opens China-built wind power plant

Austria's wind industry laments new zoning restrictions

Wind energy: TUV Rheinland certifies PowerWind wind turbines

Canadian Solar Connects its Tumushuke 30MW Solar Power Plant to the China State Grid

Yingli Green Energy Supplies 1 MW of Solar Panels to Serbia's Second Largest Solar Project

ReneSola Panels Power 420MW Solar Project in Japan

KYOCERA Solar Captures Sun and Creates Shade at Tucson Airport

Czech environment minister cancels nuke waste repository site survey

Westinghouse Announces Setting of AP1000 Plant Shield Building Conical Roofs

Greenland and Denmark to agree on uranium in 2014: Danish PM

China loans Pakistan $6.5 bn for nuclear plants

Inexpensive technique could drive down costs of biofuel production

York scientists' significant step forward in biofuels quest

Seaweed Energy Solutions (SES) acquires wild seaweed operation in Norway

Algae to crude oil: Million-year natural process takes minutes in the lab

China launches communications satellite for Bolivia

China's moon rover continues lunar survey after photographing lander

China's Yutu "naps", awakens and explores

Deep space monitoring station abroad imperative

Australia endures hottest year on record

7,000-year-old footprints give clues to climate of ancient Mexico

Geoengineering research, ethics, governance explored

UN appoints two special envoys on climate

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement