Activist Investor To Sell 10M Shrs In New York Times -CNBC

Nyt20071017b

The following news — a big investor throwing in the towel — *may* mark a bottom for NYT, which is now yielding almost 5%. Cheers!

Oct 17, 2007 09:37:13 (ET)

NEW YORK (Dow Jones)–Morgan Stanley, representing an activist shareholder, is expected to sell 10 to 10.5 million shares in New York Times Co. (NYT), said CNBC’s David Faber, citing unnamed sources.

Shares of New York Times recently traded down 61 cents, or 3% at $18.30.

-Brett Philbin, Dow Jones Newswires; 201-938-5393, brett.philbin@dowjones.com

(END) Dow Jones Newswires

October 17, 2007 09:37 ET (13:37 GMT)


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