Sunday, January 18, 2009

Death Watch: NYT About to Get George Romero Treatment

I guess the expression "throwing good money after bad" hasn't quite made it to Tijuana yet. NYT reports that Carlos Slim is about to invest $250 million of 10 year 10% convertible preferred stock and that the New York Times board is meeting on Monday to formalize his investment. Surprisingly Slim is "not expected to get any representation on the company’s board or any shares with special voting rights like those of the Sulzberger family, which controls the company." As we speculated, this is odd, seeing he has already lost over $70 million on his initial NYT investment. But let the man dream. In the meantime, mufkateer Galloway should be happy the Mexican has bought him some more time to prepare for the final duel with Connor MacLeod. Sphere: Related Content
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