Wall Street Journal, March 21, 2007
By Sarah Ellison

In late June 2005, Arthur O. Sulzberger Jr., chairman of New York Times Co., received a letter from a little-known London-based portfolio manager at Morgan Stanley named Hassan Elmasry. It began mildly. "I read my first copy of the New York Times nearly 30 years ago in my high-school library in suburban Chicago," wrote Mr. Elmasry, whose fund then owned a 5% stake in Times Co.

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