Updated: NYTCo Activists Hire Proxy Firm; Meeting With Board Noms

Preparing for an April 22nd showdown with the NYTCo (NYSE: NYT), the activist investors led by Harbinger have hired well-known proxy solicitation firm DF King to help press their case, according to TheStreet.com. In its own preliminary proxy filing, the company urged shareholders to disregard any solicitations from the investor group, although by bringing their holdings to over 19 percent of the company, they’ve reduced the necessary threshold of support from non-affiliated shareholders. The above article notes the growing discontent among the company’s general shareholders. When last put to a vote, 42 percent said they wanted the company’s dual-class voting system scrapped, up from 30 percent the year before.The other obvious sign of frustration: the long-term decline in the company’s shares as investors walk away.

Update: It’s not clear whether this represents anything more than a formality, but the company does have a planned meeting with the activists’ four board nominees. A company spokeswoman told Reuters: “The Harbinger candidates are being reviewed… Members of the nominating and governance committees plan to meet with the Harbinger nominees within the next week or so.”

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