Mexican billionaire to invest $250 million in NY Times, Red Sox

• A-rod, Carlos Slim at Telmex kids baseball clinic, Mexico, 11/30/08 ap photo

Billionaire Carlos Slims's purchase last fall brought him part ownership of the NY Times

• and Boston Red Sox.

The NY Times still needs money, so is reportedly in talks to generate even greater Slim ownership of the Times Co. A report also mentions a hedge fund's interest.

• Slim is a descendant of a Lebanese immigrant to Mexico.
• And possibly a friend of A-rod's.

Slim to invest $250 million:

• (NY Times): "Under the terms of the deal, Mr. Slim, who already owns 6.4 percent of the Times Company, would invest $250 million in the form of 10-year notes with warrants that are convertible into common shares, these people said.

• As part of Mr. Slim’s investment, which resembles a loan, he is expected to get a special annual dividend, perhaps as high as 10 percent or more on this investment, these people said.

• Mr. Slim is not expected to get any representation on the company’s board or any shares with special voting rights like those of the Sulzberger family, which controls the company.

• Nonetheless, when Mr. Slim exercises the warrants, he would become the largest shareholder in the Times Company,
• owning about a third of the common stock. "...

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