Chinese tycoon wants to buy Wall Street Journal

BEIJING (TIP): Chinese tycoon Chen Guangbiao has reaffirmed his plans to buy an American newspaper after his failure to acquire the New York Times. “I am going to talk to the Wall Street Journal and find out if it is up for sale,” he told Sinovision, a New York-based Chinese TV channel, on January 8. Chen apparently enjoys the Communist Party’s backing as it is unusual for Chinese businessmen to announce such plans.

The official Xinhua news agency usually describes him as a “high profile Chinese philanthropist”. “I am very good at working with Jews,” Chen said. He said he was aware that Jews own many American newspapers. “I can comfortably run an American newspaper because I have equally competent IQ and EQ compared to Jews.” Chen is believed to have circulated a business card in New York in which he describes himself as “the most influential person of China”, “China moral leader”, and “most well-known and beloved Chinese role model”.

A photograph of the card, which includes his photograph, has gone viral over the Internet. The New York Times website is banned in China. But Chen had earlier said he wanted to own and work on “rebuilding its credibility and influence” by reforming its coverage of China. Chen blamed himself for ruining his chances of meeting New York Times shareholders by leaking his plans to the media.

“I am entirely to blame for this,” he said. The tycoon made a name for himself by donating cash to victims of the 2008 earthquake. But he has been involved in a series of attention grabbing activities including distribution of cans of “fresh air” to beat the smog in Beijing and a half-page advertisement in New York Times saying the disputed Japan-controlled Diaoyu Islands belong to China.

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