Posted on 01/14/2015 10:49:30 PM PST by Bratch
New NYT motto...’badges?...we don’t need no stinking badges’
When will Carlos Slim rename the NYT to The Mexican Times? If not, why not?
Carlos Slim’s wallet while be SLIMMER soon. :-)
This doesn’t matter.
“The Times Company has a dual share structure: Class A stock, which is publicly traded, and a special class of stock, Class B, that allows the Sulzbergers to elect about 70 percent of the company’s board.”
This means that the Sulzbergers would control the NYT even if Slim bought 100% of the Class A stock.
Importantly, a while back, the Sulzbergers considered taking the NYT private if its Class A stock price fell too low, which would totally screw its Class A stockholders.
“Somebody made the observation that the NYT is on some of the most valuable real estate in the world. If he buys the newspaper, he will also own the building.”
Hopefully, he will shut them down and build condos.
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