By: Jennifer Saba
Morgan Stanley Investment Management (MSIM) has increased its shares in the New York Times Co., the firm disclosed in a Securities and Exchange Committee filing this afternoon.
MSIM now holds 10,821,555 Class A shares or 7.5% of the New York Times, up from 5.4% MSIM held in the spring.
In April, MSIM rattled its saber during the New York Times annual shareholder meeting, protesting management and the dual-class stock structure of the company.
MSIM, along with other institutional shareholders, withheld its votes for the company?s Class A directors claiming the dual-class voting structure fostered a lack of accountability said statement released by MSIM in April.
MSIM called for one class of stock with equal voting rights but also said the company had ?outstanding long-term potential.?