Where is the MSM coverage on the big money? The story is raunchy and full of lurid details which would make for a great novel, except that it is current and true. Guess the new owner of the NYT is not interested in laundering his dirty underwear.
This is a scandalous story, involving one of the world’s largest banks, a powerful federal judge, and two Mexican telecom giants. Under any other circumstances, the business section of the Times would be expected to cover it, as the Journal and Bloomberg have. Yet as of Saturday midday, I cannot find a single mention of any aspect of this case, anywhere in the physical New York Times, or on its Web site–not even a blog post or a wire story. Perhaps as the lawsuit moves on, the Times will be compelled to cover it. But for the moment, it certainly appears that Carlos Slim’s investment has bought the silence of one of the world’s most important newspapers.
via The Story the New York Times Won’t Touch.
February 23, 2010 at 9:06 am
The agonist ran a lengthy article on this a couple of days ago: http://agonist.org/rakoff
I don’t usually read the agonist, but I ran across a mention of its coverage in an occasional foray to eats shoots ‘n leaves: http://richardbrenneman.wordpress.com/2010/02/22/crony-capitalism-and-the-new-york-times/
Lefty blogs ran Slim’s increased stake in NYT incessantly, this will gain traction there. (http://www.counterpunch.org/ross03182009.html
http://www.sfbg.com/blogs/politics/2009/03/will_drug_cartels_buy_the_chro.html
http://www.madcowprod.com/02032009.html)
http://www.allbusiness.com/north-america/mexico/877520-1.html 2006 forbes article citing Slim as the 3rd richest man in the world, some now say he is the richest man in the world.
Older article on the proceeding triple play act: http://endrtimes.blogspot.com/2009/06/carlos-slims-hidden-cards.html
When recently asked why he thinks the New York Times is a good investment, the Mexican billionaire that has made fortunes in distressed industries that provide steady cash flows answered:
“We think it’s the best newspaper,” he said. “We believe in media content. We think paper will disappear, but not the content. The content will become more important.”
Or controlling it.
February 23, 2010 at 10:09 am
You have it pegged perfectly Nom. It’s all about control of content. Thanks for the links on the non story.
February 23, 2010 at 10:10 am
Of course they’re not going to touch it. The NYTimes is the biggest rag in the country. If I were a journalist, you couldn’t pay me enough to write for them.
February 23, 2010 at 12:12 pm
Truth be known, they are getting their clocks cleaned for the writers that are plagiarizing. Someone was forced to resign last week there. After JE, I myself prefer the National Enquirer to the NYT.
February 24, 2010 at 3:19 am
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