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According to the Washington Post, Morgan Stanley is now an “activist shareholder“. Referring to MS Investment Management’s call for the abolition of the Times’ dual class stock structure, the WaPo writes:
The New York Times is the third major media company to be challenged by activist shareholders in the past year. Time Warner Inc. faced off with corporate raider Carl C. Icahn over its handling of its AOL Internet subsidiary in February, and investors, led by Private Capital Management, forced the sale of Knight Ridder Co. in March. Private Capital Management is the New York Times Co.’s largest public shareholder.
Now, it seems, anyone expressing dissent of any sort is an activist shareholder. And we don’t want to be left behind on the trendy-but-wrongly-used financial terminology bandwagon, so you will no longer be known as “commenters” and “readers,” but as “activist shareholders.” Activist sharehold away!
NY Times Control Challenged [WaPo]