Investors take 10 per cent stake in New York Times
A boardroom fight may be brewing at the New York Times, according to Philip Stone, of followthemedia.com. The Times, like many newspaper companies in Canada and the United States, has a dual-stock structure that gives founding family members control over the board of directors. Two investment funds, Harbinger Capital Partners and Firebrand Partners, recently purchased 10 per cent of the New York Times Company, which is controlled by the Sulzberger-Ochs family. Arthur Sulzberger has already rebuffed the group’s earlier request for four board seats.
A boardroom fight may be brewing at the New York Times, according to Philip Stone, of followthemedia.com. The Times, like many newspaper companies in Canada and the United States, has a dual-stock structure that gives founding family members control over the board of directors. Two investment funds, Harbinger Capital Partners and Firebrand Partners, recently purchased 10 per cent of the New York Times Company, which is controlled by the Sulzberger-Ochs family. Arthur Sulzberger has already rebuffed the group’s earlier request for four board seats.
Kelly Toughill is an associate professor of journalism at the University of King's College and founder of Polestar Immigration Research Inc.