Slim May Invest $250 Million in New York Times

The Mexican billionaire thin Carlos is in the talks to invest approximately $250 million at New York Times Co., his newspaper of brought back flagship, because the editor continues the financing to help off-centering a slide of deepening in publicity.

Thin can buy some ten years notes which are convertible in ordinary actions and receive a special annual dividend as high as 10 percent on the investment, times brought back yesterday, quoting people given of the instructions on the talks. The plans of council to meet today to approve the business, which can be announced tomorrow, the newspaper indicated.

NewYork Times, with a facility of the credit $400 million expiring in May, tries to support the money cash and to pay in bottom of the debt while the sales of advertisements dry upwards. The company reduced its dividend in November and tries to raise $225 million an operation of transfer-lease of sale of its head offices of Manhattan. The company also seeks a purchaser for his stake in the team of baseball of Boston Red Sox, according to a person with the knowledge of the talks.

Thin, the man second-rich person of the world according to Forbes Magazine, increases his possessions in the editor of newspapers based in New York on the one hand passive of 6.4 percent as from mean September 4., 68, is outside the investor third-biggest with the company of the family of control of Ochs-Sulzberger.

Per hour of its initial investment, it quoted attractive value of the company. Since mean possessions were reported in a classification of standardization of September, the shares slide 52 percent. They were closed to $6.41 on January 16 on New York Stock Exchange, making the mean value of stake approximately $58.3 million, downwards starting from $121.2 million over September 4.

No right to vote

Wall Street Journal brought back on January 17 which thin was in the talks to invest more with the company, including a possible exit of prefer-actions without the special right to vote.

Catherine Mathis, a spokesperson for NewYork Times, and thin spokesperson Arturo Elias Ayub refused to comment on.

In a note of December to the employees, Jr. of Arthur Sulzberger, the President of company and the editor of his newspaper of flagship, called the 2009 of the financial perspectives discouraging. NewYork Times, the third larger editor of newspapers of the United States, announced a fall of 13 percent in sales of advertisements for the first 11 months of 2008, including a dive of 21 percent in November.

Last month, the company said that it was open options of placement which include the renewable credit, the private public offerings and placements. NewYork Times also indicated that it was in the discussions with lenders and does not envisage to entirely replace the facility of the credit $400 million. The editor finished the third quarters with $1.1 billion in the debt and $46 million cash and the equivalents.

Thin has the mobile supplier of SAB of America Movil and larger Latin of the phone service of America, and the SAB of Telefonos Of Mexico, the largest operator of the land line of this country.