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Harbinger Capital cuts stake in New York Times Co. to 16.4 pct, calls company a ‘core holding’

Hartford Courant – Harbinger Capital Partners LLC says it has sold part of its 20 percent stake in The New York Times Co., but still considers the company a core holding.

The hedge fund said in a securities filing this week that it sold 5 million Times shares at $8.25 each. That leaves it with about 23.5 million shares, or a 16.4 percent stake in the company.

Fund spokesman Charles V. Zehren says the media company “is still a core holding, and the sale was done to take advantage of the strength in the market.”

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