Slim was once seen as a godsend to the paper, which faced similar financial difficulties as other print papers and news media shifts primarily to online. In 2009, he lent the paper’s parent company $250 million in the midst of the financial crisis. By 2015, he was the largest single investor.
Shares have increased by over 50 percent since 2015. Despite the recent success, the paper’s shares were trading at $18.60 by Monday evening — significantly down from its 2002 high of $52.00.
A New York Times spokesperson saidthat the organization is “grateful for Mr. Slim’s confidence and support of the company,” according to Bloomberg.
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