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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Paper with a Record: Why the NYT has been so soft on Trump
(Headline courtesy of me)
https://medium.com/@joe.bartlett/lots-of-smoke-a-story-on-the-new-york-times-philip-morris-and-russia-e462f4d0914e
Because its two largest shareholders are tied to Russia, Russian Mafia and the very lucrative cigarette smuggling trade.
The Biggest Owner
Until December 2017, the largest stockholder of the NYT was Carlos Slim Helú, a man who is advertised as a Mexican business magnate, investor, and philanthropist. Slim loaned $250 million to the newspaper in 2009 while the company was struggling after the 2008 recession.
Apparently, Carlos Slim made his money beginning in the cigarette industry in the 1970s and was fortunate enough to pick up some additional state and non-state assets along the way. He ran a telecom monopoly Telmex after winning rights to the state company in a controversial transaction associated with allegations of rigged bidding in favor of the group of investors led by Slim.
</snip>
Carlos Slim Sells His Shares and BlackRock is Now Largest Owner
Slim sold half his NYT shares for $240 million on January 2, 2018. He is now the second-largest shareholder of the company, and the investment management firm BlackRock is now its largest owner with a stake of 8.1 percent. Slim also owns a position in BlackRock reportedly less than 2 percent.
BlackRock has significant investments in Russia particularly in the Russian Direct Investment Fund that is connected with Vladmir Putins family and works tightly around US sanctions. VEB, the Russia state-owned lender, has been locked out of international debt markets by US and European sanctions since 2014, but BlackRock continues to buy their debt on secondary markets and reportedly now holds more of the debt than at any point since the sanctions. BlackRock continues to pump investment Russia despite the optics given their recent attack on our democratic system...
Until December 2017, the largest stockholder of the NYT was Carlos Slim Helú, a man who is advertised as a Mexican business magnate, investor, and philanthropist. Slim loaned $250 million to the newspaper in 2009 while the company was struggling after the 2008 recession.
Apparently, Carlos Slim made his money beginning in the cigarette industry in the 1970s and was fortunate enough to pick up some additional state and non-state assets along the way. He ran a telecom monopoly Telmex after winning rights to the state company in a controversial transaction associated with allegations of rigged bidding in favor of the group of investors led by Slim.
</snip>
Carlos Slim Sells His Shares and BlackRock is Now Largest Owner
Slim sold half his NYT shares for $240 million on January 2, 2018. He is now the second-largest shareholder of the company, and the investment management firm BlackRock is now its largest owner with a stake of 8.1 percent. Slim also owns a position in BlackRock reportedly less than 2 percent.
BlackRock has significant investments in Russia particularly in the Russian Direct Investment Fund that is connected with Vladmir Putins family and works tightly around US sanctions. VEB, the Russia state-owned lender, has been locked out of international debt markets by US and European sanctions since 2014, but BlackRock continues to buy their debt on secondary markets and reportedly now holds more of the debt than at any point since the sanctions. BlackRock continues to pump investment Russia despite the optics given their recent attack on our democratic system...
NOTE: I don't know this Medium writer. Does anybody here want to comment on the legitimacy of his article?
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The Paper with a Record: Why the NYT has been so soft on Trump (Original Post)
blogslut
Jan 2018
OP
DemocratSinceBirth
(99,704 posts)1. NYT practices a kind of access journalism.
They don't want to burn all their bridges with Trump.
enough
(13,235 posts)2. Is there a link that goes to the story? Thanks. NT
blogslut
(37,955 posts)3. Just copy/paste the whole thing
A Medium link doesn't render on DU because there's an @ in it.
https://medium.com/@joe.bartlett/lots-of-smoke-a-story-on-the-new-york-times-philip-morris-and-russia-e462f4d0914e
bearsfootball516
(6,369 posts)4. Newspapers organizations have to walk a very fine line
Between being critical enough, and being overly critical. If you're too critical, you can lose access.