World's 2nd Richest Buys Into NY Times


	World's 2nd Richest Buys Into NY Times

Andrew Farrell

9-11-2008 10:06 AM

705 views

Andrew Farrell says:

Carlos Slim Helu announces a big stake in the struggling media company.

1 Comment |

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10-8-2008 11:37 PM

sunnydays140

All I can say is that with the high prices of Sprint, the lousy customer service and the even more lousy reception for Sprint phones, he would be better off skipping the investment into Sprint and stick with the NY Times. I will never use Sprint no matter who invests in it.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cba46831-d3da-4615-a6cb-7a843d73f667/410EE0B7-913D-4D97-810B-B570DDD8B445/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.paidcontent.org/entry/419-mexican-billionaire-helu-takes-stake-in-new-york-times-company/" href="http://www.paidcontent.org/entry/419-mexican-billionaire-helu-takes-stake-in-new-york-times-company/" style="font-size: 11px;">www.paidcontent.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.paidcontent.org/entry/419-mexican-billionaire-helu-takes-stake-in-new-york-times-company/"><P>Mexican investor <A title="Carlos Slim Helu" href="http://www.carlosslim.com/biografia_ing.html">Carlos Slim Helu</A>, <A title="thought earlier this year " href="http://www.moconews.net/entry/419-speculation-on-sprint-nextels-future-swirl-as-stock-hits-20-year-low">thought earlier this year </A>to be interested in acquiring at least part of Sprint (<A title="S" class="ticker" href="http://finance.paidcontent.org/paidcontent?Page=QUOTE&Ticker=S">NYSE: S</A>) Nextel, <A title="filed surprising notice with the SEC" href="http://phx.corporate-ir.net/phoenix.zhtml?c=105317&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NTg3Njk2MyZhdHRhY2g9T04=">filed surprising notice with the SEC</A> today that he has picked up 6.4 percent of The New York Times Company’s (<A title="NYT" class="ticker" href="http://finance.paidcontent.org/paidcontent?Page=QUOTE&Ticker=NYT">NYSE: NYT</A>) common stock. The value as of Wednesday’s close: approximately $127 million, 9.1 million shares at $13.96 a share. As NYT notes, Slim has a history of investing in depressed assets that can be turned around for a profit and “several analysts familiar with his investments say they see the purchase of the Times Company stock in that vein.” NYTCo certainly fits, dropping from $40-plus three years ago to the cost of a discount DVD today. 
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