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Article: Hedge fund increases stake in New York Times Co. to 10 percent, meets with management
- Article from:
- AP Worldstream
- Article date:
- February 11, 2008
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A hedge fund seeking to name four directors to the board of The New York Times Co. disclosed Monday that it has increased its stake in the publishing company to nearly 10 percent from 5 percent.
Harbinger Capital Partners and several related entities now own 9.96 percent of the Times' publicly traded Class A shares, up from the 4.9 percent stake it disclosed in late January.
The company is working together with Scott Galloway, a marketing professor at New York University's Stern School of Business, to try and effect changes the publishing company, which they say hasn't been aggressive enough in building up its digital businesses.
Galloway and Harbinger said in a ...