Flamboyant Chinese tycoon Chen Guangbiao at one of his recent
attention-getting stunts
to 'shame' firms that he says pollute
the
environment. The
patriotic Chen has now set his sights on The
New York Times, which Beijing regards as uncooperative.
Buying The New York Times Won't 'Rebuild' China's Public Image (Global
Times, China)
Recently, Chinese entrepreneur Chen Guangbiao
suggested buying The New York Times
in order to provide 'objective coverage' of China and 'restore' its image. In
this ironic column from the state-run Global
Times, columnist Liu Yun comes close to acknowledging
that such a newspaper - like the Global Times - would be immediately discredited as an organ of the Beijing
regime.
Chinese
entrepreneur and philanthropist Chen Guangbiao flew
to New York on Friday, homing in on his latest target: acquiring The New York Times.
The idea is believed to have been on his mind for quite some time, but he first
spoke openly about it at a New Year's event.
Chen
is known for publicity stunts, from handing out charity money in the street to
selling canned air to raise awareness about the environment. Most recently, he
auctioned off four of the antique locomotives he collects to fund a home-coming
trip for the needy during the Spring Festival.
Chen
has no media business experience. This creates added doubt about the
seriousness of his bid. His sole interaction with The Times was likely a full page ad he took out last year claiming
that China holds sovereignty over the Diaoyu Islands
[called the Senkaku Islands by Japan, or the Pinnacle Islands by
other nations which claim them].
However
odd his sudden interest may be, the notion has not been dismissed out of hand, with
the news being covered widely by U.S. mainstream media, although that may have
been due to the post-Christmas "silly season."
On
the other hand, U.S. print media is on the decline, with the owners of many
flagship newspapers having to sell their assets to business tycoons. The
Sulzberger family, which owns 88 percent of class B shares
in The New York Times, has declared it
has no intention of selling, rendering Chen's plan impossible to realize. However,
the notion may not be much of a surprise if eventually, some or all of the
newspaper's controlling stakes are put up for sale.
Over
recent years, from real estate to famous brands, Chinese businesspeople have
gone on an overseas acquisition spree, and often offer premium bids. Referring
his potential bid for The Times, Chen
said that if the price is right, there is nothing that cannot be bought. That
sounds abrasive, but in theory - it's true.
The
transnational acquisition of high-profile media organizations understandably
generates a lot of buzz. In 2007, when Australian media mogul Rupert Murdoch
launched his acquisition of Dow Jones, parent company of The Wall Street Journal, there was strong opposition within professional
[journalistic] circles until capital triumphed over principle.
This
isn't the first time Chinese have showed interest in a leading U.S. media
outlet. A few years ago, bidding for Newsweek
by Guangzhou-based Southern Newspaper Media Group was snubbed - even though the
group is considered one of China's most liberal media outlets. Given the
symbolic status of The New York Times,
and Chen's mixture of nutball stunts and
publicly-expressed patriotism, his plan produced even more of a sensation.
Purchasing
a newspaper today takes more than mere business calculus. Chen told media
that his plan to acquire The Times was
for the purpose of helping the newspaper provide "objective coverage"
of China, "rebuild" its image and credibility, and thus boost The Times' business. He also said that if the deal doesn't go through, he will seek another
influential U.S. media outlet.
Among
China's public, there is both support and derision toward Chen's ambition, with
analysts listing the challenges of seeing the deal through.
Some
mock the possible purchase of The Times
as a step toward turning it into an official Chinese newspaper [government-run].
Others think the Obama Administration would do everything in its power to stop
a liberal U.S. newspaper from falling into the hands of any communist country.
Posted By Worldmeets.US
Excited
about capturing a core liberal U.S. asset, voices of support come from segments
of the population fed up with one-sided New
York Times reporting. On the other hand, large segments of the Chinese
public are also staunch defenders of the Times'
remaining with its current owners.
Even
if Chen made the deal work, he would soon come to realize that producing
favorable coverage of China from one newspaper would not be enough, as
misperceptions and misunderstandings are systematic in the United States.
Courting foreign media in order to glorify a competing country would prove a
daunting challenge.
