New York Times' Shares Surged: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of newspaper and media company The New York Times Co. (NYS: NYT) jumped as much as 12.5% today on above-average trading volume.

So what: Mexican multibillionaire Carlos Slim has long held a large stake in The Gray Lady, but recent SEC filings show that he upped his interest from 7.5% to 8.1% with another batch of buys. Slim, who is currently the world's richest man thanks to his interests in Latin American telecoms America Movil (NYS: AMX) and Telmex (NYS: TMX) , clearly sees opportunity in The Times.

Now what: On the face of it, The New York Times appears headed for obsolescence in the face of onrushing Amazon.com (NAS: AMZN) Kindles, Apple (NAS: AAPL) iPads, and other newfangled ways of consuming media that don't involve ink and paper. But it's not too late to join the digital era. Slim's fellow ultra-Croesus Warren Buffett also likes this sector, as shown by his commitment to The Washington Post Co. (NYS: WPO) . And neither the Slim empire nor Berkshire Hathaway (NYS: BRK.B) was built by Luddite losers. If nothing else, these publishing stocks sure look temptingly cheap.

Interested in more information about New York Times Co.? Add it toMy Watchlist.

At the time this article was published Fool contributorAnders Bylundholds no position in any of the companies discussed here. The Motley Fool owns shares of Apple and Berkshire Hathaway.Motley Fool newsletter serviceshave recommended buying shares of Apple, Amazon.com, and Berkshire Hathaway.Motley Fool newsletter serviceshave recommended creating a bull call spread position in Apple. Try any of our Foolish newsletter servicesfree for 30 days. WeFools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. You can check outAnders' holdings and a concise bio, follow him onTwitterorGoogle+, or peruseour Foolish disclosure policy.

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