New York Times shares spiked as much as 9% today on rumors that Mexican billionaire Carlos Slim would buy the paper, Marketwatch reports.
The Times told CNBC it had no comment on the rumors.
Carlos Slim bailed out the paper a little over a year ago with a $250 million loan.
As we’ve written this post, the stock price has started sinking lower. It’s only up 5% now. It looks like investors aren’t buying into the Slim takeover rumors anymore.
See Also: The Dizzying Expensive Loan Sulzberger Secured To Save The Times
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See Also:
- Is The NYT Ignoring A JPMorgan Bombshell Because It Makes Investor Carlos Slim Look Bad?
- Slim Saves Sulzberger! But BOY Was It Expensive (NYT)
- New York Times Savior (And Owner) Carlos Slim May Have Forced Sulzberger To Put Up Online Paywall