Mexican billionaire now owns 16.3% of the New York Times
From this:
Mexican billionaire Carlos Slim Helu isn't just one of The New York Times Co.'s creditors anymore -- he's now one of their biggest stockholders, according to a Security and Exchange Commission filing Friday... Slim exercised warrants for 15.9 million in Class A shares for a strike price of $6.3572 through his companies Inmobiliaria and GFI, raising his stake in the Times Co. to 16.3% from 6.9% at the time he was approached to loan a substantial sum to the venerable publisher... Slim got the warrants in January 2009 when he lent the Times Co. $250 million. The company said that that he would not be joining the board. The Class A common shares he bought is publicly traded stock, not the super-voting shares that gives the Ochs and Sulzberger family control of the company.
Comments
llamajockey (not verified)
Fri, 02/12/2010 - 21:25
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HS 20330 cvlamantia@comcast.net 2010-02-12T23:25:57-06:00
William McGowan is suppose to launch his takedown of the NYT any day now http://www.grayladydown-nyt.com/ The NYTs is now officially a joke under Pinch. The SNL sketch were the NYTs staff were afraid to go to Alaska to cover Palin says it all.
Fred Dawes (not verified)
Sat, 02/13/2010 - 06:13
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HS 20331 dawes57@cox.net 2010-02-13T08:13:46-06:00
so the mexican drug dealers own 16.3 percent of new york times and you say never crime never paids.
George (not verified)
Sat, 02/13/2010 - 21:56
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HS 20332 grwilliams20@hotmail.com 2010-02-13T23:56:25-06:00
I don't know what difference it makes. The NYT has has been corrupt for some time now, touting the Mexican line on immigration. Slim has made a bad investment as the paper will fold in in less than two years.
Fred Dawes (not verified)
Tue, 02/16/2010 - 00:12
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HS 20333 dawes57@cox.net 2010-02-16T02:12:57-06:00
George is right