Tribune stake.Tribune Stake: Billionaire investor Nelson Peltz Nelson Peltz is an American businessman and a billionaire. He is the CEO of Triarc, the franchise parent of Arby's, TJ Cinnamon and Pasta Connection. Peltz is the former owner of Snapple. acquired a 1.2 percent stock interest in Tribune Co., owner of the Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). , in what many see as an attempt to profit from a dispute between the media company and its largest shareholders, the Chandler family. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a filing with the Securities and Exchange Commission, Peltz's New York-based hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , Trian Fund Management, bought 2.83 million shares in the Chicago-based media company, which also owns KTLA-TV (5), the Chicago Tribune and the Chicago Cubs. Peltz has been in the news of late due to a fight with H.J. Heinz Co. because of the ketchup company's sagging stock price. He has been pushing for restructuring to slash $500 million in costs despite contentions by management at Heinz that the move would cripple the company. |
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