Carlos Slim, the second richest man in the world, has reached a deal to bail out The New York Times and buy a larger share of the newspaper company than he already owns, The Wall Street Journal reports tonight.
To see The Times in such trouble is very discouraging, because it has maintained its high standard of journalism. Its website is magnificent and a must read daily.
As for other newspapers, they deserve their dilemma because of bad leaders in the newsroom and at the corporate level.
Slim, from Mexico, is a billionaire. He will invest $250 million in unsecured notes and receive interest payments of 16 percent. Nice deal if you can get it.
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