Activists’ Rep. On Times Board To Leave

Feb 22 2010 | 12:17pm ET

Activist hedge fund Harbinger Capital Partners is giving up its seat on The New York Times Co.’s board of directors.

Scott Galloway, the founder of hedge fund Firebrand Partners, will not seek reelection to the newspaper publisher’s board at its April annual meeting. He was elected to the board as part of a compromise between the Times and hedge funds Harbinger and Firebrand, which had amassed a big stake in the company.

Galloway did not say why he was stepping down. Harbinger still owns 13% of the Times Co., which has a dual share-class structure to ensure that the Ochs-Sulzberger family maintains control of the Gray Lady. But the Times has made some moves in recent years in line with those called for by Harbinger and Firebrand, including selling non-core assets, such as its stake in the Boston Red Sox baseball team, which it is shopping.


In Depth

Fund Focus: Asian Frontier Capital Offers U.S. Investors Access To Untapped Markets

Mar 2 2015 | 6:47am ET

Hong-Kong based asset manager Asian Frontier Capital is making a capital raising...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note