Last year, The New York Times Co. fended off a major investor who complained of poor decision-making and was bent on shaking up the company. This year, management is facing another challenge from dissident investors with similar criticisms.
But this one may not be so easy to rebuff.
The funds are challenging the company's investment decisions, including its commitment to the struggling newspaper industry beyond the flagship New York Times.
OH DEAR. I THINK THAT MEANS US.
People briefed on the funds' plans say that they want to remain involved with Times Co. for at least several years, help change its direction and build up its value. One such person said, "A short-term investor doesn't run for board seats."
BUT OF COURSE THEY DON'T. THAT'S A RELIEF.