Large holder dumps some New York Times shares

Call it irony. On September 21, The New York Timesran a long piece about the difficulties that newspapers are still having with their extraordinary loss of advertising. As it turns out, one of The New York Times Company's (NYT) largest shareholders was dumping shares.

According to an examination of SEC filings, The Wall Street Journal discovered that "Harbinger Capital Partners has sold five million shares of New York Times Co., unloading a chunk of its 20 percent stake in the publisher at a significant loss."