Monday, October 4, 2010

New York Times to Repay Carlos Slim's $250 Million Loan Three Years Early - Bloomberg

New York Times to Repay Carlos Slim's $250 Million Loan Three Years Early - Bloomberg

New York Times Co., publisher of the namesake newspaper, plans to pay back a $250 million loan from Mexican billionaire Carlos Slim three years ahead of schedule.

The company intends to repay the loan by January 2012 instead of January 2015, according to Abbe Serphos, a Times spokeswoman. The London-based Sunday Telegraph reported the timing earlier, and said Chief Executive Officer Janet Robinson may seek digital acquisitions once debt levels fall, though she didn’t name any possibilities.

Slim spokesman Arturo Elias declined to comment.

Smart move !!

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