Harbinger Wins Media General Board Seats

Apr 24 2008 | 2:26pm ET

Activist hedge fund Harbinger Capital Management has succeeded in getting its slate of director candidates elected to Media General’s board.

Preliminary results show that shareholders of the Richmond, Va.-based publisher elected Harbinger’s dissident slate of three. Media General, which owns the Richmond Times-Dispatch, Tampa (Fla.) Tribune and WFLA, Florida’s highest-rated television station, among other properties.

The hedge fund and publisher have engaged in a war of words since Harbinger—which criticized Media General’s performance and called on the company to consider “alternatives” for its Florida properties, as well as taking aim at its dual-share structure that gives the Bryan family control of the company—announced its intention to seek board representation. Earlier this month, Media General CEO Marshall Morton said the newly-elected Harbinger-backed directors “cannot hold a candle” to its defeated incumbents.

Harbinger last month won a pair of seats on The New York Times Co. board under an agreement with the Gray Lady.


In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…