Carlos Slim Raises Stake in New York Times

Tuesday, 23 Aug 2011 08:13 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

SAN FRANCISCO (AP) — Mexican telecommunications billionaire Carlos Slim has increased his stake in The New York Times Co., according to regulatory filings.

Inmobiliaria Carso SA, which is controlled by the Slim family, bought 553,000 shares of New York Times class A common shares on August 18, according to a filing with the Securities and Exchange Commission on Monday. Slim's purchase prices ranged from $6.83 to $7.09 per share. The stock closed Tuesday at $7.00 per share.

With the purchase, Slim's stake in the company's class A common shares rose to 7.2 percent from 6.9 percent.

The majority of the Times Co. is controlled by the Sulzberger family through a special class of stock.

In addition to being an investor, Slim has loaned the Times Co. money. The company recently paid back a $250 million, high-interest loan from him —ahead of the planned repayment schedule.

Forbes lists Slim as the world's richest man, with a fortune estimated at $74 billion — much higher than Bill Gates' $56 billion or investor Warren Buffett's $50 billion. Slim built his fortune by amassing a range of retail, industrial and telecom companies.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

O'Reilly: Colbert Has 'No Bleeping Clue' How to Fight ISIS

Monday, 29 Sep 2014 22:40 PM

Fox News host Bill O'Reilly shot back at Comedy Central's Stephen Colbert, who last week mocked O'Reilly's idea of a mer . . .

Vatican Sends Official to KC in Pedophile Shielding Case

Monday, 29 Sep 2014 21:39 PM

The Vatican has sent a church official to Kansas City to examine the leadership of Roman Catholic Bishop Robert Finn, wh . . .

Attorney: Psychiatric Exam Could Mean Jailed Marine's Freedom

Monday, 29 Sep 2014 20:48 PM

Andrew Tahmooressi, a Marine sergeant jailed in Mexico after he said he mistakenly crossed the border with three guns, w . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved