Carlos Slim Discloses 16.21% Stake in New York Times (NYT) ~ market folly

Tuesday, January 27, 2009

Carlos Slim Discloses 16.21% Stake in New York Times (NYT)

Amongst all the reports that Carlos Slim's companies were going to give the New York Times (NYT) $250 million at (crazy) 14% interest, we finally get a raw number as to his position in the company. In a 13G filed with the SEC, Carlos Slim has disclosed a 16.21% stake in NYT with 25,754,000 shares of class A stock.

This adds to his investment arsenal of a 17.8% stake in Saks, and a 7.64% stake in Bronco Drilling, among other things.

Carlos Slim is a well-known Mexican businessman who amassed his wealth through telecom. He is known for his association with America Movil (AMX), Telcel, and Telefonos de Mexico (TMX) and was the second richest man in the world as of 2008. Slim has been busy in the markets recently.

Taken from Google Finance,

The NYT is "is a diversified media company, including newspapers, Internet businesses, television and radio stations, and investments in paper mills and other investments."

Disclosure: market folly was short NYT at the time of writing. Holdings can change at any time.

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