Carlos Slim’s Good Investment


I remember when Mexican billionaire Carlos Slim showed up with a hefty investment in The New York Times at a moment when they were having difficulty rolling over their debts and it launched a lot of head-scratching about what his plans for global media domination might be. Now it turns out his loan is going to be repaid early which, as Felix Salmon notes, makes sense for the NYT financially and should earn Slim a giant profit. So perhaps he just made the investment for his stated reason—it seemed like a good investment.

Part of my optimism about the future of the media in a digital world would be the observation that for all it’s rattled business models, the Internet has also helped make the world’s best newspaper better than ever (with rich multimedia, links to original documents, faster breaking news) and also more widely read than ever. Under the circumstances, it seems like a very smart investment for a guy with deep pockets.