World's richest man increases stake in NY Times to 7.3% as Times share price drops 36% in 2011
Through the fund Inmobiliaria Carso S A, Slim bought 553,000 Class A shares of New York Times on August 18 at prices ranging from $6.83 to $7.09 per share, according a regulatory filing.
The purchases increased Slim's stake in the company, which publishes its namesake newspaper as well as the Boston Globe, to 7.3 percent from 6.9 percent....
Slim, with a fortune estimated at about $74 billion, was named the world's richest man by Forbes magazine in March for the second year running....
New York Times repaid a $250 million loan to Slim on August 15, about five months earlier than expected.
Slim still holds warrants to buy 15.9 million Class A common shares of New York Times. The warrants expire on January 15, 2015.
Shares of New York Times are down nearly 36 percent this year."...
8/23/11, "Carlos Slim boosts stakes in New York Times and Saks," Reuters
from NPR On the Media Transcript with Andres Martinez, former editorial page editor of the NY Times and LA Times, 1/30/09:
- via poynter.org/romenesko
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