Pinch, Feeling the Pinch, Agrees to Meet With Harbinger Nominees

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On the inside, Galloway (left) and Sulzberger are really quite alike. Photo: Patrick McMullan

Arthur "Pinch" Sulzberger and the board of the New York Times have agreed to meet with four nominees being put forth by Scott Galloway, of Firebrand Partners, and his partner, Atlanta-based investment firm Harbinger Capital, Times spokeswoman Catherine Mathis confirmed to the AP today. Up until now, the board has declined a meeting with the activist shareholders — who earlier this month announced they'd like the Times to cut several small businesses from their portfolio and build up their online operations — and have essentially ignored the nominees they proposed adding to the board, swashbuckling former ZBT brother and Red Envelope founder Galloway included. This is likely because Sulzberger was thinking something along the lines of, "What the eff does an ex–frat boy b-school professor with a moderate-to-undistinguished investing record know about the newspaper business? Fuck 'em!" But over the past month, the firm has amassed a somewhat terrifying 19 percent stake in the Gray Lady, and now, apparently, Pinch & Co. don't feel they have a choice. The Times' annual meeting is set for April 22.

N.Y. Times to Meet With Board Nominees [AP]