Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Salman
Does Slim expect to make money from owning the NYT? Or is owning the NYT just an expensive way to show off, like owning a yacht?

Good question.

Start with this, though. The Times has two classes of stock -- Class A and Class B. Class A is publicly traded. Class B is privately held by the Ochs-Sulzberger family.

Both classes share in the profits, such as they are. But Class B nominates 9 of the 14 directors, thus controls the company.

It's not said whether Slim and Proto gained control of 19% of the Class A or Class B shares -- though I presume it is the former, since they say they are now the company's principal shareholders.

My guess is that Slim has plans. Note that Proto, who has a minority stake (just 2%) also owns the leading Italian newspaper -- Corriere della Sera. Proto is probably partnering with Slim for his newspaper expertise.

The odd thing is that the New York Times brand may have more value than the actual operation. They might have some plans to exploit the brand in some way, while they try to keep Pinch & the boys above water.

19 posted on 02/25/2014 5:56:06 PM PST by okie01 (The Mainstream Media -- IGNORANCE ON PARADE)
[ Post Reply | Private Reply | To 2 | View Replies ]


To: okie01
That $250 mil loan kept the NYT afloat, IIRC. The piper now needs to be paid. And if I had just provided what amounts to 50% of the company's worth I don't think I'd be satisfied with a minority position on the board.

This isn't going to turn the Times into an anti-American internationalist tool any more than it already is. Meet the new boss, amigos.

22 posted on 02/25/2014 6:03:00 PM PST by Billthedrill
[ Post Reply | Private Reply | To 19 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson