Activist Ups Stake In NYTCo Again To 11 Percent; Shares up 27 Percent Since Action Initiated
By Joseph Weisenthal - Fri 15 Feb 2008 05:44 PM PST
In a fresh filing this evening, the activists agitating for change at NYTCo (NYSE: NYT) announced that they picked up another 500,000 shares on Wednesday. Through the various funds involved, Harbert Management, the parent company of Harbinger, now controls 15.57 million shares or nearly 11 percent of the company. Just since the investors announced their intentions to seat their own boardmembers on Jan. 25, NYTCo has announced board changes as well as newsroom layoffs. And already, since that date, shares are up over 27 percent.
