Reuters Blogs

MediaFile

Where media and technology meet

17:30 February 22nd, 2008

NY Times to shareholders: IT’S NOT TOO LATE!

Posted by: Kenneth Li
Tags: Mediafile

hourglass.jpgNo less than 24-times did the New York Times proxy refer to Harbinger Capital Partners by name in a prelminary proxy filed on Thursday.

In case one wonders how the Ochs-Sulzberger family-owned enterprise feels about the barbarians at the gate, this should clear things up:

Our Board of Directors unanimously recommends a vote for the election of each of our Board’s nominees on the enclosed WHITE proxy card. Even if you have previously signed a proxy card sent by Harbinger, you have every right to change your vote by telephone, by Internet or by signing, dating and returning the enclosed WHITE proxy card in the postage-paid envelope provided. We urge you to disregard any proxy card that you may receive from or on behalf of Harbinger.

Still, Times spokeswoman Catherine Mathis tells us the company plans to review the slate of four director nominees proposed by the dissident shareholders group.

Just moments after the proxy was made public, Harbinger forced its first likely rewrite. The hedge fund disclosed it had snapped up even more shares of the publisher, rendering the 11.8 percent it is listed as owning inaccurate. It is now the biggest shareholder with 15.61 percent.

Friday, Feb. 22 is the date of record to vote in the annual meeting, giving the shareholders group one last shot at buying more. And the day is not over yet.

Post Your Comment

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word

House Rules:
  • We moderate all comments and will publish everything that advances the post directly or with relevant tangential information
  • We try not to publish comments that we think are offensive or appear to pass you off as another person, and we will be conservative if comments may be considered libelous information.