Mr. Chen Guangbiao, a wealthy Chinese businessman intends to buy the New York Times. Guangbiao seems to talk about the deal with the leaders of the New York Times tomorrow.
The New York Times: Chinese Businessman Seeking Stake in Times Co.
The New York Times keeps silent about this matter. Arthur Sulzberger Jr, the chairman of the New York Times declared that he had no intention to sell this world famous newspaper just after Jeffrey Bezos gained the Washington Post.
Huff Post: New York Times 'Not For Sale,' Chairman Arthur Sulzberger Jr. Declares
My past entry: Mr. Bezos buy The Washington Post
According to the New York Times, he spoke that he would buy another American medium if this negotiation resulted in failure. But it is also possible that he will compromise to gain some amount of stakes of the New York Times.
International Business Times: Who Is Chen Guangbiao? The Chinese Millionaire That Wants To Buy The New York Times (NYSE: NYT)
Guangbiao is deemed as a strange philanthropist. His true goal is still unknown. Some Japanese people are afraid that his deal will be disadvantageous to Japan. I do not think so. To begin with, this deal is opposed by both the US and China. The US is likely to be resistant to sell this representative medium. In addition, China government is hindering Chinese citizens from reading this newspaper. Guangbiao will not solve these problems immediately, regardless of money.
Tea Leaf Nation: China’s Jeff Bezos, He Ain’t: Chinese Oppose Chen Guangbiao’s New York Times Bid
Nonetheless, it is no doubt that possessing a public medium which is broadly accepted is crucial for an entrepreneur. His attempt will continue.
On the other hand, it is to be focused that newspaper companies are vulnerable today. Income from advertisement are decreasing in most newspapers. The New York Times and some other companies will be struggling for money.