NYT-Targeting Hedge Funds Boost Stake To 19%

Feb 26 2008 | 5:57am ET

A pair of activist hedge funds pushing for changes at The New York Times Co. now owns almost 20% of the company’s shares.

Harbinger Capital Partners and Firebrand Partners, who are pushing to elect a dissident slate of four directors to the Times Co.’s board, have boosted their stake to 19.03%, they said in a regulatory filing yesterday. The hedge funds have almost quadrupled their ownership stake since January.

The two sides are set for a proxy battle, after the Times Co. urged shareholders to reject Harbinger’s nominees for the Class A board seats, and the hedge funds hiring a proxy solicitor.

RELATED ARTICLES:

Harbinger Battle Over Times Heats Up
Times Preps For Proxy Fight Over Board Seats
Hedge Funds Double New York Times Stake 
Harbinger Denies Hostile Intentions Towards Media General
Stop The Presses: Hedge Fund Seeks Times Board Seats


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.