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"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Saturday, May 23, 2009

NYTimes now in debt to Carlos Slim and Harbinger has two seats on its board....

"Harbinger acquired its stake in the NYTimes in 2007. Since then, the $500 million investment has lost more than three quarters of its value. Harbinger has two seats on the Times board of directors."..."The Times' $1 billion-plus in debt forced it to take a loan from Mexican billionaire Carlos Slim worth $250 million earlier this year.[2009] The Times paid $4.5 million up front to borrow the money and will pay 14% interest." http://www.thewrap.com/article/fortune-geffen-almost-had-his-hands-new-york-times)









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