Some have speculated—or engaged in some wishful thinking—that a buyer with very deep pockets like Google or Michael Bloomberg could buy the New York Times, supporting the paper at a time when the entire newspaper industry looks increasingly endangered.

The Times now has a very wealthy investor—albeit for a minority stake—and he is actually someone who has an enviable track record in the communications business.

Carlos Slim, who created Mexican telecommunications behemoths Telmex and América Móvil, has bought a 6.4 percent stake in the New York Times Co., according to a filing with the Securities and Exchange Commission.

The investment, he told reporters in Mexico City, "is financial," indicating that he will not play an activist role.

Slim and his family and his companies bought 9.1 million Class A shares. He and his family would be the third largest holder of New York Times Co. Class-A shares, behind the Harbinger Capital and Firebrand Partners hedge funds and the Sulzberger family, which controls the company through its supervoting B shares.

Slim, 68, is sometimes called the world's richest man; at the very least, he is in the top three, along with Bill Gates and Warren Buffett. His conglomerate Grupo Carso has owned some Mexican newspapers in the past, but he has not shown much interest in media. He has, however, done well with investments in depressed stocks, most famously with MCI.

Shares of New York Times, which have slumped 20 percent so far this year, could use some Big Money love. The shares closed on Wednesday at $13.96; a year ago, it was over $20.

There is one possible source of conflict: The New York Times Co. owns a piece of the Boston Red Sox, and Slim is said to be a New York Yankees fan.