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Carlos Slim buys 6.4% stake in NYT

September 12, 2008 by Veronica Villafañe

Considered to be the wealthiest man in the world, Mexican billionaire Carlos Slim has disclosed he and his family have bought 9.1 million shares of the New York Times Company – an equivalent of 6.4% of the company, worth $127 million.

According to the NYT, Carlos Slim has a history of buying “depressed assets he can later sell at a profit.” Analysts familiar with his investments say they see that same goal in the purchase of the Times Company stock. Could this be a good sign for the NYT, which has seen its stock drop from more than $40 a share in 2005 to less than $14 this week?

Filed Under: People

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Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Currently a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

Hispanic media and entertainment contributor to Forbes.

Full bio here
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