Categories: OLD Media Moves

Activist hedge funds want to add Fenwick to TheStreet board

Two activist hedge funds that own a stake in TheStreet.com want the financial news company to add former Dow Jones and Bloomberg executive Lex Fenwick to its board, reports Keith Kelly of the New York Post.

Kelly writes, “FiveT Capital and Spear Point Capital, two activist hedge funds that successfully lobbied for the ouster of CEO Elisabeth DeMarse, are now pushing for Lex Fenwick, a former top executive at Dow Jones and Bloomberg, to get a seat on the board along with FiveT head Johannes M. Roth.

“The funds together control about 9.77 percent of the common stock and have met with acting CEO Larry Kramer.

“Fenwick, who is known to favor purple suits, is the former CEO of Dow Jones and Bloomberg LP, where he was Mike Bloomberg’s longtime right-hand man.”

Read more here. And here is the SEC filing.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.