The Man Who Could Save the Times

Has The New York Times found its savior? Mexican billionaire Carlos Slim Helú is near a deal to invest $250 million in the Times. The board will meet today to approve the deal, though sources warned that it could still collapse. Mr. Slim already owns 6.4 percent of the Times. Under the new deal, he would invest $250 million "in the form of 10-year notes with warrants that are convertible into common shares." Mr. Slim will not get representation on the company's board, or special voting rights, but if he exercises the warrants, he will own about one-third of the company's stock—more than the Sulzberger family's 19 percent. Slim, who controls cellular and landline telephone companies, is estimated to be worth $60 billion.