THE HOT JOINTS » Morgan Stanley http://www.thehotjoints.com Breaking News and Opinion Thu, 18 Mar 2010 20:36:51 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Stock Dump: Morgan Stanley Sells Entire Stake in New York Times http://www.thehotjoints.com/2007/10/17/stock-dump-morgan-stanley-sells-entire-stake-in-new-york-times/ http://www.thehotjoints.com/2007/10/17/stock-dump-morgan-stanley-sells-entire-stake-in-new-york-times/#comments Wed, 17 Oct 2007 18:39:52 +0000 Chris Jones http://www.thehotjoints.com/2007/10/17/stock-dump-morgan-stanley-sells-entire-stake-in-new-york-times/ 09f6f1b209f8e71ca7112bd5a9f89e6d Stock Dump: Morgan Stanley Sells Entire Stake in New York Times

Morgan Stanley, the second-biggest shareholder in New York Times Co., sold its entire stake today, according to a person briefed on the transaction, sending the stock to its lowest in more than 10 years.

New York Times shares slid 48 cents, or 2.5 percent, to $18.43 at 12:44 p.m. in New York Stock Exchange composite trading and fell as low as $18.28, a level not seen since January 1997.

Morgan Stanley held 10.5 million New York Times, or a 7.3 percent stake, as of June 30, making the company the second- largest institutional investor behind T. Rowe Price Group Inc., with a 14 percent stake.

Family members led by New York Times Chairman Arthur Sulzberger Jr. control the company through their ownership of Class B shares that allow them to appoint nine of the company’s 13 directors.

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