Thread: Mexican billionaire becomes largest New York Times shareholder

Published: Wednesday, 1/14/2015


Mexican billionaire becomes largest New York Times shareholder

ASSOCIATED PRESS

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NEW YORK — The New York Times Co. says Mexican billionaire Carlos Slim is now the largest holder of its publicly traded shares.

The business magnate, who built his fortune by amassing a range of retail, industrial and telecom companies, is ranked by Forbes as the world’s second-richest person with an estimated net worth of $72 billion.

Slim lent the newspaper company $250 million at the height of the recession, as print advertising sales dropped across the industry and the company slashed staff and sold off most of its midtown Manhattan headquarters to raise cash. New York Times later refinanced the high-interest loan and paid it off three years early.

The company said today that Slim and entities he controls recently spent nearly $101.1 million to exercise warrants he received for that investment, acquiring 15.9 million shares for about $6.36 each, roughly half the stock’s current price. The purchase brings his stake to about 27.8 million Class A shares, or 16.8 percent.

The ownership doesn’t change control of the company. The Sulzberger family controls The New York Times Co. through a trust that owns 90 percent of its Class B stock, which isn’t publicly traded, and 3.8 percent of Class A shares. Holders of Class B stock can elect 70 percent of the company’s board.

Investment manager Fairpointe Capital LLC, based in Chicago, is now the second-largest holder with a little more than 14 million Class A shares, according to S&P Capital IQ.

Read more at http://www.toledoblade.com/Stock-Mar...owOUuTProjz.99

by Tony Lee
15 Jan 2015

Mexican billionaire Carlos Slim, the world’s second-wealthiest person, is now reportedly the “largest investor” in the New York Times after doubling his ownership stake in the company.

According to a Bloomberg report, Slim exercised “options to acquire 15.9 million shares in the newspaper company” on Thursday, boosting “his stake to 16.8 percent of the company’s Class A shares.” Slim initially helped the Times stay afloat when he “lent the paper $250 million in January 2009.”

As Breitbart News has documented, the Times has been one of President Barack Obama’s most ferocious defenders on amnesty issues. It has, for instance, “asserted, even though the numbers prove otherwise, that it was ‘delusional'” to think Obama’s “DACA program lured more illegal immigrants to America,” mocked “its own Republican columnist for criticizing Obama’s potential Caesarism,” and “maligned opponents of Obama’s executive action, who have emphasized that granting millions of work permits to illegal immigrants would make it more difficult for American workers, of all races and backgrounds, to get jobs, as ‘nativists.’”

Slim, a fierce advocate for amnesty legislation, has reportedly “introduced a campaign to integrate about half a million” DREAMers into the U.S. workforce. And Facebook co-founder Mark Zuckerberg, who also started the pro-amnesty FWD.us lobbying group, pushed for comprehensive amnesty legislation at Slim’s charity event in Mexico last year.

http://www.breitbart.com/big-journal...imes-investor/

http://www.alipac.us/f9/carlos-slim-...holder-316862/

1/16/2015

Just a gentle reminder of why the NYT is such a biased, in my opinion, rag. I don't take anything published there seriously.

Trump should discuss this fact in his speeches and let the people know. Alot of us already knew but most people probably do not.

And the overtaking of our country, United States of America, continues. Another NAU reality.