Harbinger Capital continues to invest in New York Times, increases ownership to 19.03%

By Lisa Kerner

Charlotte, N.C, Feb. 25 - Investors led by Harbinger Capital Partners Funds increased their ownership interest in the New York Times Co. to 19.03% from 15.61% with the purchase of an additional 4,903,300 shares of the company's stock.

The shares were acquired on Feb. 21 and Feb. 22, priced from $18.94 to $20.70, according to a schedule 13D filing with the Securities and Exchange Commission.

Previously, Harbinger reported the purchase of 5,129,902 shares 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 27,222,434 shares of the New York Times.

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.

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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