Wall St. Sends New York Times Co. a Message

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By: Jon Friedman | MarketWatch

The billionaire acted decisively, and the market has applauded. Times Co. shares rose 4% on Wednesday, a day after Mexico’s Slim announced that he had increased his holding in the newspaper company to 7.3% from 6.9%, according to a regulatory filing.

 
Slim has a good reason to be pleased with the Times. The company repaid earlier this month a $250 million loan, three and a half years before it was due. To Wall Street, this indicates that things at the Times appear to be better than the investment community had thought.

As of last month, Slim held warrants to purchase 15.9 million of the company’s Class A stock.































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