The Deal
Monday, November 23, 
2:41 pm

Hedges up NY Times stake, nominate slate

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NYT coverHedge fund Harbinger Capital Partners Funds and activist investor Firebrand Partners LLC have increased their combined stake in the New York Times Co. to 9.96% from 4.9% and have nominated four directors to the Gray Lady's 13-member board, according to an SEC filing.

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Harbinger and Firebrand have nominated:

  • James Kohlberg, co-founder of private equity firm Kohlberg & Co.,
  • Gregory Shove, co-founder and chief executive officer of Internet media company Helium Group,
  • Allen Morgan, managing director of venture capital fund Mayfield Fund and
  • Scott Galloway, founder and chief investment officer of Firebrand.

Harbinger and Firebrand late last month in a Securities and Exchange Commission filing said they planned to nominate directors to the NY Times board and expressed goals of building up the company's online business. - Michael Rudnick

See SEC filing
See Dealscape story: Harbinger, Firebrand take aim at New York Times board
See related Dealscape story: Would DealBook really know if the Times were selling About.com?
See related Dealscape story: Harbinger's other media campaign





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