Monday, 26 January 2015
Last updated 29 min ago
Jun 21 2010 | 12:50pm ET
Add another alternative investments player to the bidding war over red-ink soaked magazine Newsweek. Harbinger Capital Partners may be one of the dozen parties battling over the august weekly, which is being sold after a half-century by the Washington Post Co.
Harbinger—which two years ago won a seat on The New York Times Co.’s board of directors but has been paring its once 20% stake in the publisher ever since—is interested in Newsweek, Business Insider reports. The New York-based hedge fund declined to comment on the “market speculation,” the blog noted.
If Harbinger is in on the bidding, its battling two other potential buyers with ties to the alternative investments world. Hedge fund manager A.R. Thane Ritchie wants to buy the magazine, although on his own and not on behalf of his Ritchie Capital Management. Private equity firm OpenGate Capital, which owns TV Guide, is also bidding on Newsweek.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…