Stock buyers interested in New York Times takeover talk

Oklahoma City News.Net
Thursday 9th September, 2010

There has been solid interest in New York Times stock, with a sudden surge on takeover talk.

On Wednesday rumors circulated that the world’s richest man, Carlos Slim, the Mexican telecom mogul, might increase his stake in the newspaper.

The rally was driven by speculation that Slim, who owns 6.9% of the company’s Class A shares, could take a larger equity stake.

Slim injected $250 million into the Times company last year as it restructured its heavy debt load.

Members of the Ochs-Sulzberger family own a majority of the Times’ class B shares and would have to agree to any takeover.

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