Sun-Times Media Group Inc.'s third-largest shareholder has thrown its weight behind an effort to oust the board of the beleaguered newspaper company.
Calling it an "easy decision" in light of the poor performance of the current board, K Capital Management, which owns 8.6 million Sun-Times shares, said it signed the consent solicitation from fellow shareholder Davidson Kempner in order to "give the company new, more experienced leadership," according to a letter from K Capital portfolio manager Abner Kurtin to Sun-Times board member Raymond Seitz. The letter was filed with the SEC on Thursday.
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