The Guardian
trending topics
Close Box

Our news

Yes, it’s true: We are joining GigaOM...


Updated: NYTCo Activists Hire Proxy Firm; Meeting With Board Noms

  • Comments Comments (View)
  • Text Size: A A

Preparing for an April 22nd showdown with the NYTCo (NYSE: NYT), the activist investors led by Harbinger have hired well-known proxy solicitation firm DF King to help press their case, according to TheStreet.com. In its own preliminary proxy filing, the company urged shareholders to disregard any solicitations from the investor group, although by bringing their holdings to over 19 percent of the company, they’ve reduced the necessary threshold of support from non-affiliated shareholders. The above article notes the growing discontent among the company’s general shareholders. When last put to a vote, 42 percent said they wanted the company’s dual-class voting system scrapped, up from 30 percent the year before.The other obvious sign of frustration: the long-term decline in the company’s shares as investors walk away.

SEE ALSO: Updated: NYTCo Urges Shareholders To Disregard Harbinger’s Board Nominees; Stake Now At 15.6 Percent

Update: It’s not clear whether this represents anything more than a formality, but the company does have a planned meeting with the activists’ four board nominees. A company spokeswoman told Reuters: “The Harbinger candidates are being reviewed… Members of the nominating and governance committees plan to meet with the Harbinger nominees within the next week or so.”

Feb 26, 2008 1:44 PM ET

Posted In: Money, Companies, New York Times, df king

(Page 1 of 1)


The Bestsellers

From iTunes and YouTube to Facebook and Kindle, the most popular content on the web, free and paid.

iTunes Songs iTunes Songs
1. We Are Young (feat. Janelle Monáe)
2. Stronger (What Doesn't Kill You)
3. I Will Always Love You
4. Set Fire to the Rain
5. Sexy and I Know It
See The Other Bestsellers »

Jobs RSS Job Listings

Social Standing

Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?

"Sentiment" Scores for All the Companies »

Sponsors

Staff