Hedge fund Harbinger Capital Partners has increased its stake in The New York Times Co., doubling its share from 4.9 percent to 9.96 percent, a move aimed at naming four directors to The Times' board, the Associated Press reported Tuesday.

Harbinger is working with Scott Galloway, a New York University marketing professor, to try to implement changes in the company, which they say has not built up its digital businesses aggressively enough.

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Media Times Ltd. has launched Urdu newspaper Aaj Kal, and plans to launch another newspaper to promote a “progressive and modern Pakistan” in the future, the Daily Times reported Tuesday.

The launch was announced Monday at a ceremony attended by former Prime Minister Muhammad Nawaz Sharif.

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In its latest round of layoffs to combat “rapidly declining revenue,” due to advertising and circulation declines, the Minneapolis Star Tribune will cut 58 positions and freeze the wages of non-union employees.

About three percent of the staff will be cut, as well as seven additional photo-imaging employees, the Minneapolis St. Paul Business Journal reported Monday.

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Editors of four national dailies in Bangladesh, as well as 30 editors and publishers of local dailies, urged their government to implement policies that would help newspapers survive during difficult times.

The editors of Amar Desh, Amader Shomoy, Manabzamin and Bhorer Kagoj and others addressed the government at the “Problems of the newspaper industry” forum, organised by the Progressive Democratic Party, The Daily Star has reported Wednesday.

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Yahoo announced Tuesday a strategic partnership with T-Mobile International, in order to expand its mobile services with the help of T-Mobile's European footprint.

This agreement, which bolsters Yahoo’s oneSearch initiative, will make it the exclusive mobile search provider for T-Mobile in 11 European markets starting from the end of March, Media Post reported Tuesday.

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Yahoo, who turned down a takeover bid by Microsoft Monday, announced Tuesday its acquisition of Maven Networks, an online video distribution firm.

According to Yahoo, this deal is valued at about US$160 million, and would make it the leading premium video publisher online, Media Post reported Tuesday.

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