Former AIG (AIG) Head Buys N.Y. Shares (NYT)
Maurice Greenberg, the former head of insurer American International Group Inc. (AIG.N: Quote, Profile, Research), has been buying shares of New York Times Co. (NYT.N: Quote, Profile, Research) to try to break the Sulzberger family's hold on the media company, the New York Post reported on Wednesday, citing unnamed sources. Greenberg has been buying hundreds of thousands of Times shares, the Post reported, putting him in league with other shareholders, such as Morgan Stanley Investment Management (MS.N: Quote, Profile, Research), who have been questioning the Sulzbergers' holding of a more powerful class of stock. The New York Times, whose shares gained more than 4 percent in morning trading, was not immediately available for comment. New York Times shares gained 98 cents, or 4.3 percent, to $24.02 on Wednesday, but are still far from their 52-week high of $28.98 on February 22, on the New York Stock Exchange.
Source: Reuters.com
posted by Stock Administrator @ 1:30 PM
Former AIG (AIG) Head Buys N.Y. Shares (NYT)
Maurice Greenberg, the former head of insurer American International Group Inc. (AIG.N: Quote, Profile, Research), has been buying shares of New York Times Co. (NYT.N: Quote, Profile, Research) to try to break the Sulzberger family's hold on the media company, the New York Post reported on Wednesday, citing unnamed sources. Greenberg has been buying hundreds of thousands of Times shares, the Post reported, putting him in league with other shareholders, such as Morgan Stanley Investment Management (MS.N: Quote, Profile, Research), who have been questioning the Sulzbergers' holding of a more powerful class of stock. The New York Times, whose shares gained more than 4 percent in morning trading, was not immediately available for comment. New York Times shares gained 98 cents, or 4.3 percent, to $24.02 on Wednesday, but are still far from their 52-week high of $28.98 on February 22, on the New York Stock Exchange.Source: Reuters.com
posted by Stock Administrator @ 1:30 PM
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