Harbinger continues to build stake in the New York Times

By Lisa Kerner

Charlotte, N.C., Feb. 19 - Investors led by Harbinger Capital Partners Funds bought 2,649,200 additional shares of the New York Times Co.'s stock, raising their ownership interest in the company to 11.82%, from 9.6%.

The shares were purchased between Feb. 11 and Feb. 15 priced from $16.97 to 18.71, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 16,899,200 shares of the New York Times' outstanding stock.

On Feb. 11, Harbinger, along with Firebrand Investments, LLC, announced their intent to nominate Scott Galloway, James A. Kohlberg, Allen L. Morgan and Gregory Shove for election to the company's board of directors at the 2008 annual meeting.

Between Dec. 21 and Feb 8, the investors purchased 14.25 million shares of New York Times stock priced from $14.32 to $17.72 per share for an initial stake of 9.6% in the New York-based diversified media company, it was reported in a prior SEC filing.

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