Mexican billionaire more than doubles New York Times stake

“We believe a share repurchase program in this instance is an appropriate use of the cash proceeds,” said Mark Thomposon, president and CEO. “We believe it is in the best interests of the company to continue to maintain a conservative balance sheet and a prudent view on the allocation of free cash flow, and this one-off repurchase program should not be viewed as a change of position about our capital allocation plans.”

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