The 19% figure is quite a familiar one, as it matches the roughly 19% stake held by the controlling Ochs-Sulzberger family represented on the board by chairman Arthur Sulzberger. However, the family does not have much to fear as of yet, as it holds nearly 90% of the company's Class B super-voting shares, which gives it the ability to elect the majority of the board.
Harbinger and Firebrand noted in an regulatory filing last month that they intend to nominate four candidates to the New York Times board, and the Times reiterated its own nominees and urged shareholders "not to sign or return any proxy card that you may receive from Harbinger." - Michael Rudnick
See Schedule 13D filing from SEC Edgar
See related story about board nominations from Dealscape
See earlier story from TheDeal.com
