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Nycor Corp. officially began its proxy fight for control of the Zenith Electronics Corp. board, telling shareholders that the money-losing Glenview firm needs a management ”that better understands the manufacturing and marketing of consumer electronics.” New Jersey-based Nycor, which is controlled by the same family that runs air conditioner-maker Fedders Corp., declined to identify any of its director nominees. Nycor remains Zenith`s largest holder, with 2.2 million shares, although its stake declined to about 7.9 percent from 8.2 percent after Zenith this week issued nearly 1 million shares to an employee profit-sharing plan. A Nycor spokesman refused to comment on the dilutive impact of the distribution.
