The New York Times Co. plans to pay back a $250 million loan from Mexican billionaire Carlos Slim three years early, Bloomberg reports.
The publisher of the New York Times will repay the loan by January 2012 instead of January 2015. It borrowed the money last year to buy time for asset sales and debt refinancing.
The accelerated repayment comes despite continued drops in sales and circulation. But CEO Janet Robinson said last month that she plans to expand the digital business once debt levels had dropped.
Read more at Bloomberg.