New York Times to repay loan early

The New York Times Co. intends to pay back a $250 million loan from billionaire Carlos Slim in 2012, three years ahead of schedule, a company spokesman says. The company received the investment from Slim, the world's richest man, in 2009 by agreeing to pay an abnormally high interest rate of 14 percent in addition to giving him potentially valuable stock warrants. Company spokesman Robert Christie said the company will continue to evaluate the loan as it gets closer to 2012. Shares of the company slipped 10 cents to $7.75 Monday.