Carlos Slim wants out of his New York Times investment and is set to dump half his ownership stake in the coming months according to a report just out via Bloomberg. It was Slim who many credit with saving the struggling publication during the Obama administration. Like Obama, though, that is old news. Now, Slim wants out as he prepares to dump a quarter-billion dollars worth of NYT interest.
Slim told media he still considers his bailout of the Times “a good investment.” (That bailout included the Times having to pay him a 14% interest rate on the money he loaned the company.)
With more layoffs reportedly scheduled, and the increasing strength of alternative media sources that are so quick to point out Establishment Media bias, the NYT’s struggles are likely far from over.