UPDATE: New York Times (NYT) Pops Early on Market Chatter of Potential Bid

December 30, 2013 12:28 PM EST
(Updated - December 30, 2013 1:44 PM EST)

New York Times (NYSE: NYT) rose nearly 3 percent Monday following reports that the company might be subject of takeover speculation.

China Times said earlier that China Huangpu Renewable Resources Utilization Group Co. chairman Chen Guangbiao, a member of the CPPCC, might consider making a bid for the media giant. Commentary was issued at an event being held in Shenzhen.

UPDATE - A spokesperson for The New York Times declined to comment on speculation.

Last October, Chairman Arthur Sulzberger said that the company wasn't for sale.

Shares of the The New York Times Co. are up 1.6 percent today and at some of the highest levels seen since September 2008.

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