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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. 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)
Posted by Elpaso at Saturday, May 23, 2009