Sunday, January 18, 2009

Mexican billionaire may invest in NYTimes

The Wall Street Journal reported Saturday that the NYTimes Co. is talking to Mexican billionaire Carlos Slim Helu about investing $$$ in the newspaper. 

According to the Associated Press, the NYT was $1.1 billion in debt, with $46 million in cash at the end of September. A $400 million credit facility expires in May, the Journal reported.

Though the newspaper's value has decreased significantly, the billionaire could help with finances. Forbes named Helu the world's second richest man in 2008 (higher than Bill Gates) with a net worth of $60 billion.

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