Mexican Oligarch Carlos Slim to own 17% of NYT


From Reuters last February:

(Reuters) – Mexican billionaire Carlos Slim plans to increase his stake in The New York Times Co by exercising at the end of this year warrants he received when he made a major loan to the newspaper company, according to a report in Bloomberg.

The report, which cited a person familiar with the matter, said Slim plans to hold his stake in the New York Times Co. He currently owns about 8 percent of common shares though this will increase to about 17 percent when he exercises the warrants, according to the New York Times Co latest proxy filing.

A spokesman for Slim was not immediately available to comment. A spokeswoman for the New York Times Co declined to comment.

Slim’s warrants were part of deal he made with the company in 2009 when he loaned it $250 million during the height of the economic crisis when many big city newspapers reported plunges in advertising revenue.

These are not voting shares, but, still, for a Mexican who regularly contends for richest man in the world, how has buying so much influence over the entire American news media not been a great deal for him?