Harbinger Capital cuts New York Times stake again
| December 7th, 2009 | ||
| Phil Falcone's Harbinger Capital Partners has cut its stake in the New York Times Company (NYSE: NYT) for the third time since September, two years after joining forces with Scott Galloway’s Firebrand Partners to launch a proxy battle against what they believed was management resistance to organizational change at the news media company. Harbinger Capital reaffirmed support for the company in a statement and said the cuts were the result of tactical portfolio reallocations, according to Reuters. The statement comes amidst media speculation that Harbinger Capital was contemplating taking a loss on its position to avoid further dispute with the New York Times. | ||
For Detailed Investor Profiles on these Investors, click below: |
Firebrand Partners |
Harbinger Capital Partners LLC |
Related People: Omar Asali;
Related Entities: Firebrand Investments LLC;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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