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November 12, 2008
Short-sellers betting against the New York Times Company
Bloomberg publishes a list (for subscribers) of the top companies with largest percentage of shares sold short. The New York Times Company is currently number thirteen, with 17.5% of the shares sold short. This means that these investors are betting that the shares will continue to slide.
Correction: Gannett and Meredith Companies appear on the list higher than the New York Times Company. We mistakenly reported that the New York Times Company was the only media compoany on the top 60 list, and we apologize for the error.