Carlos Slim Increases Stake in The New York Times
Carlos Slim has once again wrapped his big arms of money around The New York Times and given the paper a tender squeeze. According to Bloomberg News, Slim has upped his shares from 850,000 to 11.9 million. He now owns eight percent of Class A shares.
The purchase boosted the Times’ stock up to $6.75. The 13 percent increase is the most the paper’s stock has climbed in about two years.
This is Slim’s second stake increase in a little over a month; in late August he upped his Class A ownership to seven percent.
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