Chinese recycling tycoon says he wants to buy New York Times

Tue Dec 31, 2013 12:12pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

By Megha Rajagopalan

BEIJING (Reuters) - An eccentric Chinese recycling magnate said on Tuesday he was preparing to open negotiations to buy the New York Times Co.

Chen Guangbiao, a well-known philanthropist, is something of a celebrity in China. During a particularly murky bout of pollution in January, the ebullient and tireless self-promoter handed out free cans of "fresh air.

But Chen says he is perfectly serious in his bid to buy the Times, something that he said he had been contemplating for more than two years. He said he expected to discuss the matter on January 5, when he is due to meet a "leading shareholder" in New York.

"There's nothing that can't be bought for the right price," Chen said.

As one of the most prestigious newspapers in the world, the Times is an occasional target among the wealthy -- some with unsteady aims.

Donald Trump, the real estate magnate who sells Trump-branded bottled spring water, was trying to figure out a way to buy the Times earlier this year, according to a report in New York magazine, which said that details of Trump's plans were "scant."

It is unlikely that the Times, which has long been controlled by the Ochs-Sulzberger family, would sell to Chen.

A spokeswoman for the Times said the company did not comment on rumors.   Continued...

 
A woman exits the New York Times Building in New York August 14, 2013. REUTERS/Brendan McDermid