The New York Times Company said Monday that it had reached an agreement with Mexican billionaire Carlos Slim Helú for a $250 million loan, reported
The New York Times. Slim owns 6.9% of
the company; he is investing an additional $250 million that is convertible into common shares. NYTC will use the money to refinance existing debt; one of its two $400 million revolving credit lines
expires in May. Slim will not get any representation on the company's board or voting shares, like those held by the Sulzberger family, which controls the company.
