More Fake News on the Way?: George Soros Buys Up Shares in New York Times

More Fake News on the Way?: George Soros Buys Up Shares in New York Times

Billionaire liberal financier and political meddler George Soros has purchased $3 million-worth of stock holdings in the publisher of the New York Times, the investor’s first such purchase in over a decade.

Soros bought 126,400 shares in the New York Times Company through Soros Fund Management LLC, his investing firm. According to a filing to the US Securities and Exchange Commission (SEC) last month, the shares are worth $3,046,000.

According to the same filing, Soros also invested money in Tribune Media Company and in Time Warner Inc.

Soros Fund Management is the company that Soros uses to spread his wealth around. Soros Fund Management actively invests in stocks, bonds, commodities, currencies and, as the New York Times reported recently, the Triple Crown-winning racehorse Justify.

Soros’ latest purchase marks the first time in over a decade that the billionaire has sunk money into the New York Times. In 2007, Soros bought $470,000 worth of shares in the newspaper.

It is unclear whether Soros’ growing involvement with the Times will affect the paper’s editorial line, especially considering  that his $3 million investment is a fraction of the paper’s $3.6 billion value. Soros is well known for his liberal views, however, and publicly supports –and funds– a variety of progressive and neoliberal causes, through NGOs like his Open Society Foundations.

Dan Gainor, vice president of business and culture at the conservative Media Research Center, told the Washington Free Beacon that it would be “naive” to disconnect Soros’ investment from his views.

 

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