NYT dissident shareholder group "disappointed"

Thu Feb 21, 2008 11:16pm GMT
 
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NEW YORK, Feb 21 (Reuters) - A dissident shareholders group of New York Times Co (NYT.N: Quote, Profile, Research) said it was "disappointed" over the Times's preliminary proxy filing that requested shareholders vote for the company's own slate of board directors, setting the stage for a proxy fight.

The group, comprising hedge fund Harbinger Capital Partners and investment firm Firebrand Partners, said the Times refused to interview the group's four candidates for the board.

The investors group said it plans to file its own preliminary proxy next week, setting the stage for proxy fight.

"Shareholders are faced with a clear choice: to support directors that have been hand picked by the current Board, or truly independent directors put forward by the largest shareholder who is already effecting positive change," the group's spokesman said in a statement. (Reporting by Kenneth Li)

 
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