Slim Becomes Largest Shareholder of the New York Times Company

It’s the best of (New York) Times for Carlos Slim

The Mexican business magnate, investor and philanthropist, once ranked as the richest person in the world, now owns more of the New York Times Company than does the Sulzberger family, which has controlled the news provider since 1896.

Carlos Slim

Slim became the dominant investor after paying $101.1 million to exercise warrants that boosted his ownership of Class A shares by 11.9 million to 27.8 million, equal to 16.8% of the voting stock, the company says.

Slim acquired the warrants in 2009 when he bought $250 million of the Times’ notes. The investment helped see the company through a dark period as print ads fell, and it had to invest in its digital platform. The terms guaranteed Slim a sweet return of 14% a year; the company repaid the loan in 2011.

The Times says that it will return the cash it just collected from Slim to investors, using it to repurchase its publicly traded Class A shares.

“We believe it is in the best interests of the company to continue to maintain a conservative balance sheet and a prudent view on the allocation of free cash flow, and this one-off repurchase program should not be viewed as a change of position about our capital allocation plans,” CEO Mark Thompson says. The Times has lost about 19.2% of its market value over the last 52 weeks.

Late last year the news organization offered buyouts to 87 journalists — including some of its most senior reporters – and laid off at least 21.

“These are very difficult days as we are losing some valued colleagues and friends,” Publisher Arthur Ochs Sulzberger Jr. said at the time. But these and other staff reductions throughout the organization are necessary as we confront the realities of a radically changing industry.”

Sodi’s “Senorita Polvora” to Air in 42 Territories Throughout Latin America

Camila Sodi’s latest television project is coming to the Americas…

Turner Broadcasting System Latin America has picked up the exclusive, first-run subscription television rights to the original series Señorita Pólvora, starring the 28-year-old Mexican singer, actress and model.

Camila Sodi

The Spanish-language drama is based on a real-life story about a beauty queen who falls for a Mafia hitman.

Señorita Pólvora, which also stars Iván Sánchez, José María de Tavira and Saúl Lisazo, will premiere on TNT in early 2015.

Following its TNT debut, the telenovela will be available for subscribers on the streaming site Claro video, a Netfix rival owned by Mexican billionaire Carlos Slim, the world’s richest man.

Señorita Pólvora is the first of several teleseries that Sony Pictures Television and Televisa are co-producing under a multiyear joint venture.

The distribution deals allow Señorita Pólvora to reach audiences in 42 territories throughout Latin America.

Señorita Pólvora is a great acquisition for us as it is consistent with our strategy to incorporate local content on channels to further engage Latin American viewers,” said Angel Zambrano, vice president of acquisitions and syndication at Turner Broadcasting System Latin America.

In the U.S., the series will air on the Univision network UniMas.

Slim’s America Movil Planning to Buy Majority Stake in Europe’s Royal KPN

Carlos Slim is looking to expand his empire to Europe…

The 73-year-old Mexican telecommunications mogul, the world’s richest billionaire, has announced that he’s made an official offer to takeover Dutch mobile phone giant Royal KPN, in an attempt to expand his telecom empire into Europe.

Carlos Slim

Slim’s America Movil, headquartered in Mexico City, said in a statement that it plans to buy a majority stake in KPN for 2.40 euros per share.

It already owns 30 percent of the company.

America Movil has not signaled its support for KPN’s recent decision to sell its German unit, the E-Plus mobile network, to Spain’s Telefonica. Slim reportedly believes the 5-billion-euro (6.6-billion-dollar) asking price is too low.

America Movil, the leading wireless provider in Latin America, is Slim’s most lucrative business. In addition to KPN, the company also owns a 23 per cent stake in Telekom Austria.

It’s the latest new venture for Slim, who recently invested $40 million in the music-identifying app Shazam.

Slim Invests $40 Million in Music-Identifying App Shazam

Carlos Slim is giving one music app a financial boost…

The 73-year-old Mexican businessman, investor and philanthropist, the world’s richest billionaire from 2010-2013, has invested $40 million in Shazam, the London-based maker of the song identification smartphone app.

Carlos Slim

Shazam says the investment from Slim’s telecommunications company America Movil will help accelerate its ongoing growth in music, continued expansion into television and new product development.

The deal includes an agreement to pre-install Shazam on mobile phones sold in Latin America, Shazam Executive Chairman Andrew Fisher told Bloomberg.

Shazam uses algorithms to analyze unique elements of music to help users identify the title and other information. An acoustic fingerprint is created based on a sample taken from the phone’s microphone and is compared against a central database for a match. If a match is found, the app identifies information such as the artist, song title, and album.

Shazam has over 70 million monthly users, according to the company.

Slim Remains the World’s Richest Billionaire

Carlos Slim keeps his lead over Bill Gates by more than a slim margin…

The 73-year-old Mexican businessman and telecommunications tycoon, who launched Ora.tv last summer, is still the world’s richest man, according to Forbes’ annual ranking of the world’s richest billionaires.

Carlos Slim

Slim, who has earned the title for the last four years, tops this year’s list with $73 billion in net worth.

He’s followed by Microsoft founder Bill Gates with $67 billion and Spanish fashion executive Amancio Ortega at $57 billion, according to the magazine.

Slim’s extensive holdings in a considerable number of Mexican companies through his conglomerate, Grupo Carso, SA de CV, have amassed interests in the fields of communications, technology, retailing, and finance.

Slim Launches Ora.tv with an Assist from Larry King…

He’s already considered a telecommunications tycoon… And now Carlos Slim is one step closer to conquering the internet.

The 72-year-old Mexican business magnate, the world’s richest person, debuted his new online television channel Ora.tv, which is hailed as new on-demand digital television network, where the best of TV meets the best of the web.

Carlos Slim

The platform, announced earlier this year, will create a wide range of on-demand programs with original content that goes beyond traditional formats and can be downloaded or streamed on computers, tablets, cell phones and television sets with access to the Web.

The Ora.tv portal is financed by America Movil. Controlled by the Slim family, it’s the largest telephone system in Latin America.

OraTV.com

And Slim managed to get a little help from his friend Larry King to help kick-off the first day of programming.

King, who in December 2010 put an end to 25 years of hosting Larry King Live on CNN, reappeared with his own program of interviews on Ora.tv, including his first show guest Seth MacFarlane, creator of the animated series Family Guy.

Entitled Larry King Now, the series can also be seen on the Hulu videos-on-demand platform.

Slim Maintains Richest Person in the World Status…

Sorry Bill Gates! Carlos Slim is still the richest person on the planet!

The 72-year-old Mexican telecommunications tycoon maintains his lead over the Microsoft co-founder, according to the Bloomberg Billionaires Index, a new daily ranking of the world’s 20 wealthiest individuals.

Carlos Slim

Slim, who controls Mexico’s América Móvil SAB, heads up the index with $68.5 billion, followed by Gates and investment guru Warren Buffett.

In 2002, América Móvil was Latin America’s largest mobile-phone carrier, accounting for approximately $49 billion of Slim’s wealth by the end of 2010.