Dividend.com: Gray Lady Gets Slim

Takeover Chances 'Slimmer' at New York Times?

The New York Times(NYT Quote) has a new significant shareholder. Billionaire Carlos Slim now owns 9.1 million Class A shares of New York Times stock, according to a regulatory filing.

Class A stock is the publicly traded issue, entitling shareholders to vote for four board directors. The company has seen its share of private-equity investors taking stakes in it, such as Harbinger Capital Partners and Firebrand Partners. Control of the company belongs to the Ochs-Sulzberger family, who has been under pressure to bring out the potential value of a stock that has been performing poorly for several years. Shares of the media company's stock are currently trading at 1986 levels. ...