Carlos Slim Is Cutting His Stake In The New York Times By 50 Percent

In the summer of this year, Slim had a 17 percent stake in New York Times, but following the sale his stake rests at eight percent. For the Times Company’s part, a spokesman released a statement on Slim’s move and his relationship to the company: Slim’s financial relationship with The New York Times and the company that owns it goes back to 2009, when he gave the company a loan of $250 million to keep it afloat past the financial crisis at the time. By 2015, he was the company’s largest single shareholder when he made another big investment – and even now, after the sale, he reportedly remains the second-biggest, right after investment firm BlackRock.