The , which was last week identified as a possible takeover target of the future by the likes of Google, was being lobbied by Firebrand Partners and hedge fund Harbinger Capital Partners, which owns 4.9% of the company between them, to buy digital firms.
The two are also putting forward representatives to be elected onto the paper's board with new media experience.
These include: Firebrand founder, Scott Galloway; former AOL executive Gregory Shove; and co-founder of private equity firm Kohlberg & Co James Kohlberg.
Galloway set out his agenda in a letter to Times chairman Arthur Sulzberger Jr. and CEO Janet Robinson.
In it he makes clear he has no intention of seeking to change the ownership structure of the paper that allows Sulzberger to control the company. The family own the majority of the company's Class B shares and control nine of 13 board seats.
Galloway wrote: "The New York Times is a great institution controlled by the Sulzberger family, and we have no illusion about, or desire to change, that fact. The current board, while impressive in stature, has not been effective in inspiring the requisite bold action this media environment demands."
A Times Company spokeswoman, Catherine J. Mathis, said: "We regularly have detailed discussions on these kinds of strategic issues with our investors.
"As always, we remain open to ideas from and dialogue with our investors."
The two are also putting forward representatives to be elected onto the paper's board with new media experience.
These include: Firebrand founder, Scott Galloway; former AOL executive Gregory Shove; and co-founder of private equity firm Kohlberg & Co James Kohlberg.
Galloway set out his agenda in a letter to Times chairman Arthur Sulzberger Jr. and CEO Janet Robinson.
In it he makes clear he has no intention of seeking to change the ownership structure of the paper that allows Sulzberger to control the company. The family own the majority of the company's Class B shares and control nine of 13 board seats.
Galloway wrote: "The New York Times is a great institution controlled by the Sulzberger family, and we have no illusion about, or desire to change, that fact. The current board, while impressive in stature, has not been effective in inspiring the requisite bold action this media environment demands."
A Times Company spokeswoman, Catherine J. Mathis, said: "We regularly have detailed discussions on these kinds of strategic issues with our investors.
"As always, we remain open to ideas from and dialogue with our investors."