Friday, 27 March 2015
Last updated 7 min ago
Feb 29 2008 | 11:18am ET
Harbinger Capital Partners has filed its proxy statement seeking to elect four directors to The New York Times Co.’s board.
In its statement, filed with the Securities and Exchange Commission, Harbinger said it “believes that the future of The New York Times depends on the willingness of its management and board to take bold action to adapt to the changing media landscape.” Harbinger and fellow hedge fund Firebrand Partners are pushing the Times to sell its non-core assets, including its stable of regional newspapers and its stake in the Boston Red Sox baseball team, and focus on its digital media business.
Harbinger called its nominees—Scott Galloway, James Kohlberg, Allen Morgan and Gregory Shove—“highly motivated and talented individuals.”
The Times Co. said this week that it would meet with Harbinger’s nominees. But it also filed its own proxy statement, urging investors to reject any proxy they receive from Harbinger.
The Gray Lady has so far nominated only one candidate for the Class A board seats sought by Harbinger, leaving open the possibility that it could nominate some of the hedge fund’s choices.
NYT-Targeting Hedge Funds Boost Stake To 19%
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
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…