New York Times Stock Soars On New Carlos Slim Takeover Rumors (Was up today as much as 8%)

Business Insider ^ | 09/08/2010 | Joe Pompeo

[libertyhoundusnr]

This fellow is hardly stupid. The rumor will take a year to burn out....

[jimbo123]

If Carlos Slim buys the NY Times, he will cut at least 50% of their staff within 2 years in order to recoup his investment. It will be fun to watch. Go Carlos!

[2banana]

Enron stock has a few days like this on its way to zero...

[ken5050]

US Treasuries pay from 0-3%, you can get a 30 year fixed mortgage for 3.5%, and Slim is enjoying a 14% yield on his loan to the NY Times...

[Tijeras_Slim]

Go Uncle Charlie!

[jimbo123]

Also, the higher the sale price, the more staff he’ll need to cut to make his money back.

[Billthedrill]

This is terrible! I mean, nobody knows what Slim might do - he could turn the Times into a hotbed of anti-American activism, filled with traitorous elites attempting to run the country they hold in contempt from their editorial desks.

Either that or he'll make some changes.

[Vigilanteman]

Why would he want to buy a fishwrap which is already carrying his water for no charge?

[EyeGuy]

Mexican Billionaire?

I guess he wants a highly visible propaganda organ, to keep that convenient safety valve known as the United States open, thereby defusing a Mexican revolution, and thus extending the life of unfettered royalty enjoyed by he and his friends.

[sinanju]

Would he punch up such a rumor himself just to drive up the price before unloading his stake?

[OldDeckHand]

This might be a stupid question, but aren't there regulatory hurdles to foreigners buying a majority stake in a media interest?

I know that there are definite prohibitions for broadcast media organizations, but I think - could be wrong - that there are prohibitions on other media concerns as well.

[abb]

From a low of about $3.50/share back in mid February of 2009, NYT had bounced back to $14.67 in January 2010. This was on the hope that “the worst was over” with newspaper advertising.

Now over the past month it is back down to $7-8/share on the realization that the long-term prospect of ink-on-paper - hand delivered no less - information/advertising distribution is not good.

And the realization that advertisers can reach more people, faster, with better information and at a fraction of the cost with that interweb thingy.

[Nick Danger]

This is stupid. Carlos Slim doesn’t have to buy The New York Times. He owns their debt. All he has to do is twiddle his thumbs and whistle while the Times slides slowly into bankruptcy. At which point, since he’s the largest creditor, it falls into his lap.

[SeekAndFind]

If the New York Times belongs to Carlos Slim, many of us are interested in where his political sympathies lie.

Is he another George Soros? Is he another Ted Turner ? Another Rupert Murdoch ? Inquiring minds want to know.

[MrEdd]

ping

[The Cajun]

Carlos Slim, same guy that took over “Circuit City”, wonder how Circuit City is doing now days......Oh that's right, ran off everybody and sold off all their property and assets.
Sounds like an excellent buyer for the NYT ;^)

[Trajan88]

NYT runs tv ads here in N. Texas trying to get us to buy that rag... good luck with that Old Gray Hag.

[EyeGuy]

“NYT runs tv ads here in N. Texas trying to get us to buy that rag...”

#####

I’m fond of returning the postage-paid subscription solicitations postcards I receive, taped to a heavy brick.

[Colvin]

soaring aint what it used to be.