{"id":79074,"date":"2010-06-17T22:10:12","date_gmt":"2010-06-18T05:10:12","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=79074"},"modified":"2010-06-17T22:10:12","modified_gmt":"2010-06-18T05:10:12","slug":"china-bids-on-newsweek-unsuccessful","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2010\/06\/china-bids-on-newsweek-unsuccessful\/","title":{"rendered":"China Bids on Newsweek Unsuccessful"},"content":{"rendered":"

China Daily reports<\/a>:<\/p>\n

\n

China’s Southern Daily Group’s recent attempt to acquire Newsweek magazine – the country’s first bid for a Western publication – has failed, but the bidder is expecting to make other similar purchases, the publication’s senior management said on Thursday.<\/p>\n

“The offer to Newsweek is a volunteer action of Chinese media professionals and investors,” said Xiang Xi, managing editor of Southern Weekly, a weekly owned by the Group, who was granted an exclusive interview with President Obama during his visit to Beijing last November.<\/p>\n

“With nine-language versions, Newsweek’s platform with global communication resources and influence is in line with our pursuits.”<\/p>\n

The head of China’s most influential weekly denied any government involvement in the investments behind the bid for the Washington Post-owned news weekly.<\/p><\/blockquote>\n

See also a post from the Sinocism blog<\/a>:<\/p>\n

\nMoves like this are to be expected. China has an aggressive policy to expand its global soft power, Chinese firms, even print media ones, tend to be cash-rich, and US traditional media firms are increasingly desperate, as Newsweek\u2019s dire finances (and the New York Times\u2019, Forbes\u2019 and BusinessWeek\u2019s) demonstrate.<\/p>\n

This failed bid raises at least two obvious questions. First, would the US government even allow a purchase of influential US media assets, dying or not, by Chinese firms? Second, is China wasting time and money trying to expand its soft power through dying media properties?\n<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

China Daily reports: China’s Southern Daily Group’s recent attempt to acquire Newsweek magazine – the country’s first bid for a Western publication – has failed, but the bidder is expecting to make other similar purchases, the publication’s senior management said on Thursday. “The offer to Newsweek is a volunteer action of Chinese media professionals and […]<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2,7,5,1051],"tags":[1939,587,8365],"class_list":["post-79074","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","category-information-revolution","category-society","category-top-article","tag-foreign-media","tag-media-investment","tag-southern-weekly","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\nChina Bids on Newsweek Unsuccessful<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2010\/06\/china-bids-on-newsweek-unsuccessful\/\" \/>\n<meta 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