What's Carlos Slim Want With the NYT?S

In your finally Friday media column: Carlos Slim parsed, a Miami reporter has a bad day, Michael Wolff lives on at Adweek, James Murdoch's board seat in jeopardy, and Disney's CEO will peace out in four years.

  • After Mexican billionaire Carlos Slim raised his stake in the New York Times Co. yesterday, the stock shot up! Today, it's shot back down to normal levels, after everyone was like "Oh, it's still in the newspaper business." So why does Slim, one of the world's richest men, want to sink his cash into the NYT? One, because the money involved is like pocket lint to him, and look at all the press he gets for it! If you could control a major portion of one of the world's most influential news outlets in exchange for pocket lint, wouldn't you do it? Sure! And two, the NYT will never go bankrupt, because there will always be rich guys like Carlos Slim to step in and save it, because its reputational value exceeds its shockingly modest market cap. Also, he can hand the entire op-ed roster over to the Zetas for disposal. Some of this may be speculation on our part.
  • Miami Herald reporter Jose Cassola gave his two-week notice on Friday, got a DUI on Monday, got fired on Tuesday, got his DUI written up in the paper that fired him, and then had a blogger write "Who cares if a former Herald writer no one's ever heard of was arrested for DUI?" I bet next week will be better, Jose.
  • Though we heard from a highly placed source that Michael Wolff's time as Adweek editor was over, John Koblin reports that Wolff's boss "is confident they can work out their differences," although Wolff himself is less sure. So, Michael Wolff continues to be employed by Adweek, for now! Though he probably would not turn down any offers, if you have some!
  • A group of pension funds (worth $155 billion!) have told News Corp that James Murdoch needs to leave its board, because his presence is "causing significant reputational damage." Normally News Corp tends to brush these things aside, but $155 billion has a loud voice.
  • Disney CEO Bob Iger says he will leave his position with the company in 2015. At that point the company will begin making good movies. Just kidding.
[Photo: AP]