Revolving Door Newsletter: 09.12.08
Billionaire Buys 6.4 Percent of NYT Co.; Newsday Names New EVP, COO
September 12, 2008
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The slimmed-down New York Times is getting a fat cash infusion. Mexican billionaire Carlos Slim Helu bought 6.4 percent of the company, making him the third-biggest owner not related to a Sulzberger. Slim made his reputation (and $60 billion) investing in undervalued properties, leaving media watchers to wonder what he sees in the Gray Lady that they don't. NYT Co. stock rose nine percent yesterday, although it's still well down on the year... Cablevision's newest "prize," Newsday Media Group, named Kenneth DePaola its executive vice ...
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