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

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note