Morgan Stanley Investment Management Increases Stake in NYT Co.

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.?

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