Carlos Slim Increases Stake in The New York Times

By Chris O'Shea Comment

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. Slim — who is a Yankees fan, so we extend our condolences — keeps insisting that he doesn’t want to control the company one day, but if he keeps this pace up he might not have a choice.