New York Times
New York Times in Sale Leaseback Talks with W.P. Carey
Submitted by Tyler Durden on 01/23/2009 03:56 -0500
In one of those nauseating mirror-in-a-mirror type of news events, NYT reports that the NYT is in advanced sale-leaseback talks with W.P. Carey.
Carlos Slim NYT 13/G Filed: Owns 16.21% Of New York Times Stock
Submitted by Tyler Durden on 01/22/2009 22:29 -0500According to the SEC filing, Carlos is now the proud owner of 25,754,000 shares of Class A NYT stock, or 16.21% of the outstanding stock.
New York Times: Rescue Financing 8-K Filed
Submitted by Tyler Durden on 01/21/2009 21:25 -0500Most interestingly among the negative covenants listed:
- Creating liens on any properties
- Incur additional debt prior to March 2010, if pro forma leverage is higher than 2.75x
- Engage in sale/leaseback transactions, with up to $225 million carveout for NYT HQ building
- Merge or consolidate with other assets
- Transfer or sell assets, with any sales over $10 million have to be used to pay down debt
There is also a 101% change of control put.
Death Watch: New Entrant - New York Times
Submitted by Tyler Durden on 01/17/2009 18:39 -0500
The WSJ reports ($$$ link) that Mexican billionaire (or is that millionaire now, we need to double check) Carlos Slim Helu may bail out the New York Times.
Death Watch: New Entrant - New York Times
Submitted by Tyler Durden on 01/17/2009 18:39 -0500
The WSJ reports ($$$ link) that Mexican billionaire (or is that millionaire now, we need to double check) Carlos Slim Helu may bail out the New York Times.
