Carlos Slim received the warrants when he lent the company $250 million in 2009.Illustration: Reuters
Mexican billionaire Carlos Slim became the largest individual shareholder in New York Times Co. on Wednesday after exercising warrants that more than doubled his stake in the media company to 16.8%.
Mr. Slim, 74 years old, received the warrants in 2009 when he lent the Times $250 million to help it deal with sharp declines in advertising