Wednesday, November 29, 2006

UPDATE: Greenberg Has Less Than 100K New York Times (NYT) Shares, And No Current Plans to Raise Stake

After the close of trading Wednesday, a Hank Greenberg's spokesman said Mr. Greenberg has less than 100,00 shares of New York Times Co. (NYSE: NYT) stock and has no present intention of increasing his stake. The stock was up today on reports from the New York Post, Greenberg was buying loads of NYT stock in an effort to break the Sulzberger family's control of the company.

Shares of New York Times closed up 7.5% today on the original reports and follow-up reports from CNBC's Charlie Gasparino that Greenberg wanted to buy the company.

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