NYT to Pay Back Carlos Slim

As if there wasn’t enough news to depress Rupert Murdoch today, the New York Times says it will repay a massive loan from Mexican billionaire Carlos Slim three years ahead of the due date. In 2009, with the economy sputtering and ad revenues cratering, the paper took out a $250 million loan from Slim, who is the world’s richest man but whose scruples have been criticized. Times spokesman Robert Christie said the Times will give Slim his money back on August 15—five months ahead of schedule.