Wednesday, 26 November 2014
Last updated 2 hours ago
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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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