Harbinger buys more than 5 million shares of New York Times

By Lisa Kerner

Charlotte, N.C., Feb. 21 - Investors led Harbinger Capital Partners Funds bought 5,129,902 additional shares of the New York Times Co.'s stock, raising their ownership interest in the company to 15.61% from 11.61%.

The shares were purchased on Feb. 19 and Feb. 20 priced from $19.03 to $20.69, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 22,319,334 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 Feb. 11 and Feb 15, the investors purchased 2,649,200 shares of New York Times stock.

Harbinger-led investors bought 14.25 million shares of New York Times stock between Dec. 21 and Feb. 8 for an initial stake of 9.6% in the New York-based diversified media company.

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