Carlos Slim Helú, the Mexican billionaire, is near a deal to invest about $250m in The New York Times Company as it struggles with finances, reports the NYT. The company’s board is expected to meet Monday to approve the deal and an announcement could be made as early as Tuesday. If it proceeds, the deal would come amid efforts by the Times Company to raise money amid flagging advertising sales and obligations to pay back hundreds of millions of dollars of debt over the next two years. The company has put its stake in the Boston Red Sox up for sale and said last year it would borrow as much as $225m against its new headquarters in Manhattan. Slim already owns 6.4% of Times Company.

This entry was posted by Gwen Robinson on Monday, January 19th, 2009 at 5:45 and is filed under Capital markets, M&A, People. Tagged with Carlos Slim, Times Company. Edit this entry.