Activist ups stake in NY Times Co.

Activist shareholder Harbinger Capital Partners, along with Firebrand Partners LLC, has increased its stake in the New York Times Co. to 11.82%, or roughly 16.9 million shares, from a previous 9.96%, according to a schedule 13D Securities and Exchange Commission filing.

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Last month, the hedge fund teamed up with Firebrand to launch an activist campaign to likely challenge the company's board. Together the two had a joint 4.9% stake in the company at the time, but earlier this month, the activists upped their combined stake in the New York-based publisher to 9.96% and officially nominated four directors to the Times' 13-member board. The most recent purchase was made between Feb. 11 and Feb. 15 at roughly $16.97 to $18.71 per share. - Michael Rudnick

See schedule 13D filing from SEC Edgar
See Dealscape: Hedges up NY Times stake, nominate slate

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