Chinese Tycoon’s Interest in New York Times Undone by Media Attention

ChenGuangbiaoHeadshotThe young new year’s strangest NYC media story has come to a predictable end. Chinese billionaire Chen Guangbiao is moving on from his briefly articulated aspirations to become a local newspaper baron.

What’s not so expected is the way this pie-in-the-Chinese-sky came crashing down. From a report by Forbes blogger Heng Shao:

In an interview with Forbes in New York on Tuesday, Chen said he had scheduled a meeting on January 5 with “a small shareholder” of the Times who was introduced to him by a Chinese-American friend and supposedly would help “coordinate the deal from the top.”

The meeting was canceled, however, because Chen’s premature announcement and the ensuing media attention angered the friend and shareholder, said Chen.

Intriguingly, the author of the Forbes piece, Shao, interned at the NYT‘s Beijing bureau for a summer. Looks like she got much closer to the paper than Guangbiao ever will. The billionaire is moving on to more conventional demolition and recylcing matters here on the U.S. west coast. Read the full Forbes post here.