ChinaPR.com.cn is reporting rumors that Beijing Media Corporation is going to buy the newspaper The Beijing News (which launched in November 2003):

According to revelations by a source, Beijing Media [Beijing Youth Daily's holding company] has started to acquire Chinese media companies, exactly as was stated in their prospectus before listing [on the Hong Kong stock exchange]. Beijing Media will acquire magazines and newspapers, but their focus will be on TV.

This year Beijing Media will start to acquire magazines; according to rumors China National Geographic (中国国家地理) and four other magazines will be acquired.

Negotiations to acquire The Beijing News (新京报) have already entered a substantive stage. It is guessed that in May this year, Beijing Media will formally announce details of the acquisition in Hong Kong.

The Beijing News is currently jointly-owned by the Guangming and Nanfang Newspaper groups.

LINK:
ChinaPR.com.cn: Rumor: Beijing Media's acquisition of The Beijing News already approved (in Chinese)