The NY Times’ Biggest Investor Just Bailed On The Paper

[Emjay]

Not many people know this, but the New York Time’s largest shareholder is a Mexican telecommunications billionaire, Carlos Slim, and he just sold half of his common stock and warrants in the company, valued at about $240 million on Tuesday, reports The Hill.

I guess we may actually be saying goodbye to the failing New York Times.

Slim provided a $250 million loan to the newspaper back in 2009 with the company struggling following the 2008 recession. The newspaper paid the loan off six years ago, but Slim exercised his option on warrants to purchase shares at a discounted price.

The sell-off was made public in an appendix to a regulatory filing on Dec. 4 that was first reported by Bloomberg News on Tuesday.

more at: https://www.dcstatesman.com/ny-times-biggest-investor-just-bailed-paper/

[Bigun]

Good find!  Very interesting indeed!

[Emjay]

If you read the article, the reported demise of the NYTimes may be premature.

It goes on to say:

"Even under the intense scrutiny of Trump and the accusations of fake news everywhere, this year has been a good time for the newspaper’s business.

In July, the paper announced it had surpassed 3.3 million print and digital subscribers and doubled its digital base in the past two years alone, while the paper’s online content averages more than 140 million unique visitors per month, according to the company"

[Emjay]

One of the saddest things about the media today is in Virginia's letter to the Sun.

"Papa says if you see it in the Sun, it must be true."

Papa don't say that no more.

[corbe]

   I was a Tech Manager at a Computer City Store in San Antonio years ago, we got bought out by CompUSA.  Within a year Carlos Slim bought that Retail chain and in less than a year it was shut down, Bankrupt.  Hopefully the same fate awaits the NYT.

[Emjay]

   I was a Tech Manager at a Computer City Store in San Antonio years ago, we got bought out by CompUSA.  Within a year Carlos Slim bought that Retail chain and in less than a year it was shut down, Bankrupt.  Hopefully the same fate awaits the NYT.

One can hope.  One of the problems with the NYTs is that so many papers lift their stories.  Dallas Morning News does it all the time.

[Just_Victor]

One can hope.  One of the problems with the NYTs is that so many papers lift their stories.  Dallas Morning News does it all the time.

The vast majority of most newspaper articles a wire service stories (AP, UPI, Gannet, etc.)  I actually counted the original content in the Houston Comical some years back before I canceled my subscription.  They had <10% original content.

[Bigun]

The vast majority of most newspaper articles a wire service stories (AP, UPI, Gannet, etc.)  I actually counted the original content in the Houston Comical some years back before I canceled my subscription.  They had <10% original content.

I walked into the founding meeting of my local rag's citzen review board with a copy of the previous day's paper in which I had circled all the content that came from sources outside our country and,  when my turn go speak came around, threw it on the table and infomed my host that those stories were not why people were buying their product.  Let's just say the discussion became very lively from that point on and leave it right there.

[ArneFufkin]

   I was a Tech Manager at a Computer City Store in San Antonio years ago, we got bought out by CompUSA.  Within a year Carlos Slim bought that Retail chain and in less than a year it was shut down, Bankrupt.  Hopefully the same fate awaits the NYT.

Interesting.  I managed a Radio Shack Computer Center back in the day.

Selling the TRS-80 Model 16 Xenix and Model 100 portable systems, baby!

They were a bit of precursor to the Computer City model, although they stopped manufacturing their own products by the time CC came to fruition.

If I recall, Computer City sold a bunch of Packard Bell desktops.

[ArneFufkin]

One can hope.  One of the problems with the NYTs is that so many papers lift their stories.  Dallas Morning News does it all the time.

The New York Times still sets the storyline for all the other Fake News outlets on a daily basis.

Do you think "Morning Shmoe" and that zombie Mika have the intellectual wherewithal to plan their daily programming?  Their producers get their marching orders from Baquet and and the rest of the Marxist reprobates at the Old Grey Lady and just vomit out the narrative.

In the era of Trump, it's the linchpin of the Leftist disinformation machine.  It won't go away.   Time Warner and that gutter rat Zucker don't give a rip about CNN's ratings or P&L, it's a vehicle for a larger agenda.  The Times will always have financial backers who don't really care about anything but the agitprop.

[Emjay]

The honest thing for newspapers to do, but they never will ... is just admit to their readers.

"We give you local news you won't get anywhere else and we cover the local sports teams. 

We don't have the budget to cover national or world news and we get it all from the NYTimes and AP.

I hate to see newspapers die but they are dying.  They're begging us to pay for online editions.

I used to write a column for the Dallas Morning News and it was very popular but they had a budget crunch and stopped using outside contributors.  Or, at least, stopped paying them.

[Suppressed]

The honest thing for newspapers to do, but they never will ... is just admit to their readers.

"We give you local news you won't get anywhere else and we cover the local sports teams. 

We don't have the budget to cover national or world news and we get it all from the NYTimes and AP.

There's no need to express that. Anyone with half a Braun realizes that's true, and that's what readers want.