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Channel News Asia: Chinese Millionaire Claims to Be in Talk to Buy the NY Times

New York TimesThe colorful millionaire, Chen Guangbiao, claims he is in talks to buy the New York Times.

Guangbiao is best known for his outlandish displays of goodwill including when he handed out cash to victims of China’s 2008  earthquake and sold “canned fresh air” to residents of smog-ridden Beijing.

According to the Chinese wealth publisher the Huran Report, Chen’s estimated worth is $825 million. He built his fortune on the recycling company, Huangpu Renewable Resources Utilisation Group.

When asked to describe the talks in more detail, Guangbiao said, “the negotiation is currently underway”.

However, the New York Times has denied that the newspaper is for sale. In August the publication released the following statement from New York Times Company chairman, Arthur Sulzberger, in reaction to the sale of the Washington Post to Amazon founder, Jeff Bezos.

“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.”

For more about Chen Guangbiao’s past publicity stunts, read the article at Channel Asia News.



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