Harbinger Capital Partners Notes Glass Lewis Recommendation that Media General (MEG) Stockholders Vote the Green Proxy Card
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Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund, L.P. announced that Glass Lewis, one of the leading providers of proxy advisory services, has recommended that stockholders of Media General (NYSE: MEG) use the GREEN proxy card to vote for a Harbinger Capital Partners proposed director at the upcoming annual stockholders meeting scheduled for April 24, 2008. Importantly, Glass Lewis urged Media General stockholders NOT to vote for any of Media General's class A nominees.
In its analysis, Glass Lewis explained the following about Harbinger Capital Partner's nominee, J. Daniel Sullivan:
-- "...we believe that the board may benefit from the participation from an experienced and independent voice on the board. We believe that nominee Sullivan has extensive operating experience in the media industry which could prove valuable to the Company during its turn-around period."
See full press release here
[JT]
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