Could Mexico's biggest mogul add some much needed color to the Gray Lady?
Shares of the New York Times Co. (NYT) spiked last week amid rumors that the Mexican billionaire Carlos Slim was considering buying the company.
Slim, who amassed his fortune with Telmex, the largest telecom company in Mexico, has since denied the rumors. The telecom mogul already owns about 7% of the Times, and warrants for another 15.9 million shares.
Despite last week’s spike, the New York Times remains a troubled company operating in an industry that many analysts describe as perpetually in decline. So why would Slim -- obviously an astute investor -- even consider buying the Gray Lady?
Join Josh Lipton for a closer look.
No positions in stocks mentioned.
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