NY Times Co. in Talks With Carlos Slim on Stock Investment (Dinosaur Media DeathWatch™)

The Wall Street Journal ^ | January 17, 2009 | Matthew Karnitschnig and Russell Adams

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The New York Times Co. is in discussions with Mexican billionaire Carlos Slim about investing in the newspaper publisher to help ease its financial problems, according to people familiar with the matter.

The talks are ongoing and may yet fall apart but one of the options being discussed is a preferred-stock issue. Under this scenario, the Times Co. would issue Mr. Slim preferred stock, which carries no voting right but pays an annual dividend, in return for his investment. The investment would be similar to a loan. Preferred shares are often convertible into common stock after a defined period.

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The Times Co. has about $46 million in cash and $1.1 billion in debt as of the end of September. It has a $400 million credit facility that expires in May, $250 million in notes due in 2010 and another $400 million credit facility due in 2011. Times executives in December said the company is negotiating with lenders on long-term debt and does not plan to replace the facility expiring in May because it won't need to borrow as much. They also said they are looking to raise up to $225 million from a sale-leaseback of its share of its headquarters building and considering other financing options including revolvers, public offerings or private placements.

snip

Mr. Slim is the owner of Telmex, Mexico's former telephone monopoly, and America Movil SA, Latin America's largest cell phone firm by subscribers. His telephone companies have driven most rivals out of business by charging them high fees to complete their calls through Telmex's existing network and tying up any legal challenges in Mexico's courts. The billionaire's approach to investing in the U.S. has been to look for undervalued stocks and buy as an investment.

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ping

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http://mediamemo.allthingsd.com/20090117/can-mexican-billionaire-carlos-slim-save-the-new-york-times/?reflink=ATD_yahoo_ticker
Can Mexican Billionaire Carlos Slim Save The New York Times?

http://www.paidcontent.org/entry/419-report-nytco-in-talks-with-mexican-billionaire-carlos-slim-for-cash-inf/
Report: NYT In Talks With Mexican Billionaire Carlos Slim For Cash Infusion

http://biz.yahoo.com/rb/090118/business_us_newyorktimes_slim.html?.v=1
Mexico’s Slim may invest in New York Times: source

[chuck_the_tv_out]

foreigners owning US media: major national security threat

more powerful than owning military stocks

most MSM is already owned by US enemies IMO, via shell companies, investment trusts.

wouldn’t surprise me one bit if the PLA is, via a convoluted trail, a major owner of US media

[abb]

If Slim puts more money into NYT, it will be wasted. Print newspapers - as we have known them - are quaint relics. Technology has moved on.

There’s nothing anyone can do about it.

[Lucius Cornelius Sulla]

So they want thia guy to invest hundreds of millions of dollars, risking it all, and getting only dividends back and no control at all? Doesn’t sound like the way he got to be a billionaire.

[Spktyr]

In this case, you WANT Slim to buy the times.

See, all the US stuff that Slim’s bought in the last decade has turned to fecal matter. He ran CompUSA into the ground for example.

If he buys the Times, the Times will be out of business in five years, tops.

[Gaffer]

It the spirit of liberalism and spreading the wealth around, MoDo and the gang should forgo their pensions and stock options.

It's the only fair thing to do, isn't it?

[EQAndyBuzz]

“wouldn’t surprise me one bit if the PLA is, via a convoluted trail, a major owner of US media”

I would prefer the PLA to the existing ownership.

[Gaffer]

In the case of the NYT I don’t see where a foreigner, foreign entity, or f’in Al Jazeera for that matter would be any worse than the traitors they have owning, running and writing for the NYT today.

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http://www.reuters.com/article/industryNews/idUSTRE50F73F20090116
ABC feeling economic, digital pressures

http://www.bizjournals.com/stlouis/stories/2009/01/12/daily86.html
Lee wants reverse stock split

http://www.marketwatch.com/news/story/Time-Warner-holders-OK-reverse/story.aspx?guid={07823D40-C208-4D37-BE68-8E0A0DA2C778}
Time Warner holders OK reverse stock split

[utahson]

"The Times Co. has about $46 million in cash and $1.1 billion in debt as of the end of September. It has a $400 million credit facility that expires in May, $250 million in notes due in 2010 and another $400 million credit facility due in 2011."

What a way to run a business into the ground Pinch. See what your liberal bias has brought you. Your downfall.

[abb]

If he buys the Times, the Times will be out of business in five years, tops.

I estimate two years, regardless of whether Slim puts money in it or not. Revenues are imploding in ALL newspapers. NYT is about to start peeing red ink all over the place.

[Roccus]

Soon to be re-named “EL TIEMPO DEL NUEVA YORK”...or some such.

[utahson]

Actually the ones really imploding are the ones that are completely biased and only spout one side, the liberal side. They turn off half of the public, thus losing any potential sales from them, plus the losses to the internet. The only way to survive as a newspaper is to report fairly all sides and just not the liberal bias. The Wall Street Journal will always survive because it is more fair and balanced than the Times or any liberal newspaper in the country.

[Loyal Buckeye]

They also said they are looking to raise up to $225 million from a sale-leaseback of its share of its headquarters building and considering other financing options including revolvers...

[UCFRoadWarrior]

I wonder if Slim Shady will hire illegals to run the NYT plant?

[UCFRoadWarrior]

I dont find the Wall Street Journal any better than the NYT...the WSJ mostly is a liberal paper....with extreme anti-American views on illegal aliens and Globalism (much like the NYT)

[2harddrive]

Pull the Plug on the New York Slimes!

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http://www.hollywoodreporter.com/hr/content_display/news/e3iecbc44179b8d6b31402aec9ee54b0abd
Viacom forecasts, price targets cut

http://www.hollywoodreporter.com/hr/content_display/news/e3i4edf08b57868094da15826f27a472eb7
McPherson: ABC planning robust fall slate

http://www.variety.com/article/VR1117998726.html?categoryid=1682&cs=1
TV movies get new lease on life