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Another Bullet in the Old Gray Lady’s Ass

Bloomberg.com: News: 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.

The person declined to be identified because Morgan Stanley hasn’t made the sale public yet. Traders with knowledge of the transaction said Merrill Lynch & Co. sold New York Times stock worth $183 million in a block trade.

As the article notes, when this sale goes public, there is gonna be a lot of institutional investers who are gonna dump their shares, too.

It’s gonna be a bloodbath.

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