Mexican billionaire buys stake in NY Times and Boston Red Sox

"The purchase makes (Carlos) Slim the third-biggest shareholder in New York Times outside of the company's controlling Sulzberger family....The stake is passive, according to the filing. Slim may be buying the shares in a bet that a third party may acquire New York Times, said Hal Vogel, a New York media analyst.

• The company's largest investor, Harbinger Capital Partners, mounted a proxy fight this year for seats on the board, asset sales and more Internet investment....

Starting in January, Harbinger and Firebrand Partners pushed for New York Times to sell the Boston Globe and a 17 percent stake

• in the company that owns the Boston Red Sox.

• The investors ended their proxy campaign after New York Times agreed to give them two seats on the board."

Mr. Slim's recent US purchases include:

• "Saks, owner of the Saks Fifth Avenue stores;

• the tobacco company Altria; and

• the telecommunications company Global Crossing."

via Poynter.org/Romenesko

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