Harbinger Keeps Cutting Times Stake

Apr 23 2010 | 11:49am ET

Activist hedge fund Harbinger Capital Partners has certainly been active in one regard: selling off its stake in the New York Times Co.

The New York-based hedge fund said today that it sold 3.25 million shares of the newspaper publisher, the second time this month that it has trimmed its holdings. Harbinger’s stake in the Times, once as high as 20%, is now below 10% at 9.4%.

Harbinger sold the shares on Tuesday and Wednesday for a total of $40.4 million.

The hedge fund’s stake earned it a seat on the Times Co.’s board two years ago. But its representative, Scott Galloway, is stepping down from his post at the end of the month.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...