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Sulzberger

February 20, 2009

Arthur Sulzberger Jr, chairman of family-controlled New York Times Company, has defended the decision of the board to suspend its quarterly dividend.

Arthur Sulzberger Jr, chairman of family-controlled New York Times Company, has defended the decision of the board to suspend its quarterly dividend.

The suspension applies to both the media giant's Class A and Class B common stock and will put further pressure on the extended family who rely on such dividends. Last November, the company reduced the payout level of its fourth-quarter dividend to $.06 per from $.23 per share.

January 20, 2009

Mexican family patriarch and the world’s second richest man, Carlos Slim Helu, has agreed to lend family-controlled New York Times Company $250 million to refinance existing debt.

Mexican family patriarch and the world's second richest man, Carlos Slim Helu, has agreed to lend family-controlled New York Times Company $250 million to refinance its existing debt.

The loan is being made through the Slim family's Banco Inbursa and Inmobiliaria Carso companies. In return, these two businesses have secured senior unsecured notes due in 2015 with detachable warrants.

September 11, 2008

The world’s second richest man and family business owner Carlos Slim Helu has bought a stake in the New York Times newspaper group it has been revealed.

The world's second richest man and family business owner Carlos Slim Helu (pictured) has bought a stake in the New York Times newspaper group it has been revealed.
 
The Mexican, who has a net worth of roughly $60 billion, paid $127 million for a 6.4% stake. In doing so, he becomes the group's third largest shareholder behind hedge funds Harbinger Capital and Firebrand Partners. The latter, who were critical of the business's efforts to expand its online operations, are now represented on the company's board.
 

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