News Byte

Want to Lend the New York Times Some Money?

The publisher says it will launch a $200 million debt offering, and will use the money for “general corporate purposes including, among other things, to pay down debt and other financial obligations.” The company had previously announced that it would pay off the $250 million it owes Mexican billionaire Carlos Slim ahead of schedule, but didn’t say where it would get the money. So go ahead and connect a dot or two if you’d like.

Google Zeitgeist: Cirque du Soleil and Free Google TVs

Quite an Oprah moment at Google Zeitgeist today. A source who’s attending the event–which is wrapping up today in Paradise Valley, Ariz.–tells me that attendees got a doozy of a parting gift: A Google TV/Bravia/Dish bundle–with complimentary Geek Squad installation!

Carlos Slim Still Not Buying the New York Times

And Generalissimo Francisco Franco is still dead. But don’t tell that to the investors buying up NYT shares today.

Weekend Update 03.13.10–North by Northwest Edition

With virtually every twittery, techie media fanboy and girl swarming all over the greater Austin area this week, it feels a little empty in the Bay Area. The sun is shining, but Dolores park is just a little emptier. There are fewer fixed-gear bikes darting between cars around the Mission District, and convenience store shelves are overflowing with unpurchased Pabst Blue Ribbon. Neither rain, nor snow, nor a hipster-packed BBQ joint can keep AllThingsD from our appointed post, though.

Rich Dude Who Backed New York Times Bumps Tech's Gates as World's Wealthiest Man

Microsoft bigwig Bill Gates got hip-checked off the top perch as the richest man in the world by Mexican billionaire Carlos Slim on the annual Forbes list of the world’s Richie Richs. Often in the No. 1 spot, Gates actually got shoved off in 2008 by investor Warren Buffett (now No. 3), with whom he is good friends. Gates returned to the top rank in 2009, and now Slim–a telecom and more tycoon–has surpassed Gates’s net worth of $53 billion slightly with a $53.5 billion kitty.

What’s the Good News at the New York Times?

Things have gotten less bad for the paper, but nothing dramatically good. So why are investors bidding up the publisher’s shares today? Shrug or make something up.

The New York Times Gets Out of the Radio Business, Collects $45 Million

The New York Times is getting out of the radio business. Did you know the New York Times was in the radio business? Exactly. Anyway, now it’s not. The cash-strapped publisher has sold WQXR-FM for $45 million, carving up the asset into two packages for different buyers–local NPR affiliate WNYC and Spanish-language broadcaster Univision Radio. The money will go to paying down the paper’s debt: Not much, but more than the company may get for the Boston Globe.
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Why the New York Times Took Carlos Slim Over David Geffen

The New York Times turned down a chance to borrow money from Hollywood mogul David Geffen last winter and went with Mexican billionaire Carlos Slim instead. So says the New Yorker, which also reports that Geffen tried to buy the paper outright in September.
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David Geffen Thinks The New York Times Is a Charity Case. So What Does He Want to Do About It?

A new series of reports argues that billionaire David Geffen doesn’t want to make money by investing in the New York Times–he wants to save it. Fair enough. But how exactly does he plan to do that?
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David Geffen Wants a Chunk of the New York Times. But What Does Google Want?

David Geffen, who had previously tried to buy the Los Angeles Times, has been trying to buy a chunk of the New York Times. It’s not clear why. Also unclear: Why Google would have “looked seriously” at the opportunity to buy the Times in the last few weeks, as Fortune says it has.
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(Long) Weekend Update, 1.19.09

The FCC Is Going COMCASTIC!