New York Times Acquisition Rumor Turns Out to Be Only That (NYSE:NYT)

Shares of The New York Times (NYSE:NYT) are trading 5.4% higher to $11.53 on rumors that Mexican investor Carlos Slim was planning to buy the newspaper publisher.

However, a spokesman for Slim said he has no plans to buy the New York Times.

"There are no changes," Slim's spokesman, Arturo Elias Ayub, said of Slim's previously stated desire not to control the company, "These rumors are going to be coming and going all the time."

Slim owns a nearly 7% stake in the company and also holds warrants for an additional 15.9 million shares, which he received early last year when he agreed to lend the company $250 million at 14% interest.