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Investor Carlos Slim Sees Future for 'NYT' Without Print

The New York Times turned down a chance to borrow money from Hollywood mogul David Geffen last winter, and went with Mexican billionaire Carlos Slim instead. Chairman Arthur Sulzberger Jr. told Geffen's people he preferred to work with Slim because the telco billionaire already owned Times shares and because Sulzberger "was reportedly also worried about Geffen's ambition to take over the company."

Now Slim is the New York Times Co.'s largest creditor and this is what he has to say about the paper's future: The New York Times is "the best brand. We think the paper will disappear, but not the content."

Slim and his heirs control more than 200 companies. In modern history, no one has dominated a major economy the way Carlos Slim does that of Mexico. "His nationalism, humility, and relatively modest personal habits stand as a kind of rebuke to the image that Mexicans typically have of their oligarchs."



Read the whole story at The New Yorker »

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