MEXICO CITY (Reuters) - Mexican mogul Carlos Slim sold off a small portion of his 17 percent stake in the New York Times Co <NYT.N> last week, capitalizing on the stock's considerable rally this year.
Slim sold 521,500 shares of the stock on July 28, yielding about $10 million, according to a filing with the U.S. Securities and Exchange Commission.
Slim unloaded the shares a day after the newspaper publisher reported its second-quarter earnings, announcing that its digital subscription revenue had eclipsed print advertising revenue for the first time. Shares soared as much as 7 percent on the news, reaching their highest point since 2008.
Slim is the largest shareholder in the newspaper company, although a majority of its voting shares remain in the hands of the Sulzberger family, which has controlled the paper for more than a century. Slim loaned the company $250 million in 2009 at the height of the financial crisis and doubled his stake in 2015.
The cornerstone of his empire is America Movil <AMXL.MX>, Latin America's largest telecommunications firm by number of subscribers.
A spokesman for Slim did not immediately respond to a request for comment.
(Reporting by Julia Love; Editing by Christian Plumb and Jonathan Oatis)