Mexican billionaire Carlos Slim is poised to become the largest shareholder in the New York Times Co. after already almost doubling his money from an investment that helped the newspaper get through the financial crisis.
Mexican magnate Carlos Slim and the Italian group Proto will be the principal shareholders of the US daily The New York Times (NYT), said sources at the Proto Organization. This is because Slim plans to exercise at the end of this year warrants he received when he made a major loan to the newspaper company, according to a report in Bloomberg.
The New York Times published on Wednesday a very strong editorial criticizing the misguided policies of the government of President Cristina Fernandez, arguing that once again 'Argentina is on the brink”.
A good one and a bad one for Brazil: The New York Times announced on Sunday that it will launch an online edition Portuguese language edition in 2013 given the country’s growing global clout, but on the other hand Brazil’s nine nation constituency at the IMF will lose a member, Colombia that will join Mexico.
Mexican billionaire Carlos Slim spent 8.8 million dollars to boost his stakes in Saks Inc. and New York Times adding to his biggest US holdings as the stock market slumped last week. Saks gained the most in almost a year.
Chairman and publisher of the New York Times Arthur Sulzberger delivered a speech within the framework of a newsroom gathering summit in London and tackled the rumours of the newspaper going out of print by 2015.