"The nationalization of.... it's rumored, the newspaper industry"
.... if that happens, I'm never buying a paper again. They will truly be government propaganda sheets -- even more than they are now!
Related: The Turbulent Trials of the Times and Tribune
"Times Co., Carlos Slim said to be in talks" by ASSOCIATED PRESS | January 19, 2009
NEW YORK - The New York Times Co. is in talks with billionaire Carlos Slim Helu about a possible investment of hundreds of millions of dollars that could help the publisher meet debt payments, according to a Wall Street Journal report that cited unnamed sources.
A Times Co. spokeswoman declined to comment yesterday. Slim's representatives could not be immediately reached for comment. The Journal on Saturday said no deal is set and that discussions with Slim, owner of Mexico's telephone giant Telmex, could end without a deal.
Times Co., which owns The Boston Globe and other media properties, had about $46 million in cash and $1.1 billion in debt as of the end of September, the Journal reported. A $400 million credit facility expires in May. In September, Slim and members of his family purchased 6.4 percent of Times Co.'s publicly traded shares. The value of that investment has dropped by half since then, the Journal said. Forbes last year named Slim the world's second-richest man.
The Ochs-Sulzberger family owns a controlling interest in the Times Co. through special voting shares. Harbinger Capital Partners holds a 19.9 percent stake. The Journal said one possible plan could involve issuing preferred stock. The stock wouldn't offer voting rights but would pay a dividend, the Journal said. This could allow the Ochs-Sulzberger family to retain control of the company. But preferred shares often can be converted to common stock after a certain period.
You see? It's Zionist Jews that own, operate, and edit the Jew York, I mean, New York Times -- and tha explains the coverage more than anything I could type.
The company is planning a special board meeting next week, the Journal said.
The day they are done will be the day I can rest.
It may be time to renew that resolution.
