Slim Said to Plan Bigger New York Times Stake by Year-End

By: Patricia Laya | Bloomberg

Billionaire Carlos Slim plans to exercise warrants by the end of the year that will more than double his stake in the New York Times Co. to as much as 19 percent, a person with knowledge of the matter said.

Slim, the world’s second-richest person according to data compiled by Bloomberg, owns stock warrants giving him the right to buy 15.9 million Times Co. shares at $6.36 apiece, less than half their market value as of today’s close.