Carlos Slim increases stake in NYT Co.

October 6, 2011
Category: Uncategorized | Associated Press
Carlos Slim boosted his Times Co. holdings by 850,000 shares to 11.9 million shares, according to SEC filings. He now owns 8.1 percent of the newspaper company’s Class A stock. The Mexican telecom billionaire’s spokesman told Bloomberg News in an email: “The New York Times is a great media company, with a great name, excellent content and very good management.” In August, Slim bought more than a million shares of Times Co. in what he said then was an effort to capitalize on a down market. Times shares closed up 12.7 percent at $6.75 today; for the year, they’re down 38.8 percent. || AP report from Tuesday: Analyst says NYT Co. to outperform newspaper peers.