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World's 3rd Richest Man and Family Take 6.4% of NY Times (Dinosaur Media DeathWatch™)
Editor & Publisher ^
| September 10, 2008
| Jennifer Saba
Posted on 09/10/2008 5:51:48 PM PDT by abb
Move over Warren Buffett. One of the world's richest men has decided to bet on newspapers, too. Mexican billionaire Carlos Slim Helú along with his family disclosed in a Securities and Exchange Commission filing that they now own 9,100,000 Class A shares or 6.4% of the New York Times Co.
The New York Times declined to comment.
This makes the Slim family one of the company's largest Class A shareholders along with Harbinger Capital Partners. Harbinger owns a 20% stake in the company and two seats on the board held by Scott Galloway, founder and CIO of Firebrand Partners, and James Kohlberg, chairman of the private equity firm Kohlberg & Co.
According to a 2007 article by Fortune's Stephanie N. Mehta, it's estimated that Slim has fortune close to $60 billion. She reports that Slims' family holdings represent 5% of Mexico's gross domestic product. Slim owns Teléfonos de México, which controls 92% of Mexico's phone lines and another company that commands roughly 70% of wireless market share, according to Fortune.
TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: dbm; newspapers; nytimes; pinch
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This just in.
1
posted on
09/10/2008 5:53:03 PM PDT
by
abb
To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...
2
posted on
09/10/2008 5:54:37 PM PDT
by
abb
("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
To: abb
I don’t understand - why would anybody invest in that old dying dinosaur?
3
posted on
09/10/2008 5:55:22 PM PDT
by
Baladas
((ABBHO))
To: abb
This should be every bit as successful as his purchase of CompUSA.
4
posted on
09/10/2008 5:57:41 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Baladas
>> I don’t understand - why would anybody invest in that old dying dinosaur?
He thinks he’s buying a megaphone, and influence in the US.
I hope he chokes on it.
5
posted on
09/10/2008 5:58:25 PM PDT
by
Nervous Tick
(I've left Cynical City... bound for Jaded.)
To: abb
Isn’t Slim a Mexican lefty?
6
posted on
09/10/2008 5:59:04 PM PDT
by
Norman Bates
(Freepmail me to be part of the McCain List!)
To: abb
7
posted on
09/10/2008 5:59:49 PM PDT
by
xDGx
To: Nervous Tick
Oh, a Mexican Soros. Got it.
8
posted on
09/10/2008 6:00:28 PM PDT
by
Baladas
((ABBHO))
To: Baladas
Hi, Baladas:
I don’t understand - why would anybody invest in that old dying dinosaur?
My first guess.... Money laundering.
Jack.
9
posted on
09/10/2008 6:00:57 PM PDT
by
Jack Deth
(Knight Errant and Resident FReeper Kitty Poem /Haiku Guy)
To: Nervous Tick
Exactly. Mexico is so poor, he needs to be certain that the New York Times will support unlimited amnesty.
Heavens forbid that he should use any of his $60 billion to start new businesses in Mexico that might employ a few people.
10
posted on
09/10/2008 6:01:12 PM PDT
by
Cicero
(Marcus Tullius)
To: abb
Technical guide on how to invest money in the New York Times:
11
posted on
09/10/2008 6:01:30 PM PDT
by
FormerACLUmember
(When the past no longer illuminates the future, the spirit walks in darkness.)
To: Baladas
To promote la raza and open borders.
The family is mexican.
LLS
12
posted on
09/10/2008 6:02:11 PM PDT
by
LibLieSlayer
(GOD, Country, Family... except for dims!)
To: abb
he wants Rupert to go for it..
13
posted on
09/10/2008 6:02:25 PM PDT
by
wardaddy
(Obama/Pol Pot 2008)
To: abb
Buying the stock that Americans just won’t buy......
14
posted on
09/10/2008 6:03:33 PM PDT
by
clintonh8r
(Fire mission!)
To: abb
15
posted on
09/10/2008 6:06:21 PM PDT
by
ken21
(people die and you never hear from them again.)
To: abb
"Pinch" needs to start sleeping with his good eye open.
16
posted on
09/10/2008 6:07:56 PM PDT
by
Sooth2222
("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
To: Cicero
Exactly. Mexico is so poor, he needs to be certain that the New York Times will support unlimited amnesty. Illegals are very important to Slim.
Slim's Teléfonos de México controls 92% of the country's phone lines. A report I read said that the Mexican government/Slim have some charge on phone calls from the US to Mexico that is ten times higher than anywhere else in the world.
When you have a corrupt government on your side it's easy to gather wealth.
17
posted on
09/10/2008 6:13:21 PM PDT
by
RJL
To: abb
Slim?
The REAL Slim Shady?
To: LibLieSlayer
To promote la raza and open borders. The family is mexican.
He's thrown away good pesos.
The NYTs ALREADY supports those issues, Hahaha
To: Sooth2222
"Pinch" needs to start sleeping with his good eye open.
Please tell me somebody gave him a well deserved punch in the face and let it be McCain.
Please:-)
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