Sponsored Content

Intermarkets' Privacy Policy

Boycott NYT Advertisers | Main | Human Genome Pioneer Finds God, Expresses Belief In "Theistic Evolution"
June 28, 2006

Direct Action: Hostile Takeover Of The New York Times?

Cold Water: Commenters are telling me, so far, that only family members have Class A stocks, which control the company. Only Class B stocks can be bought, and they're nonvoting.

I wonder if there are any other big papers or wire services which are open to a hostile takeover.

Another Update: Professor Bainbridge on the Times' dual-share system and Morgan Stanley's efforts to fight it.

Thanks to Abe, I think, for that.


A commenter noted that the Times has an odd arrangement whereby the Sulzberger family retains control, somehow, despite not having the bulk of voting stocks.

Does anyone know how this arrangement works, exactly? And, more importantly, how it can be undone?

Suppose there are one to three million angry, blog-reading conservatives in total.

Suppose further that each would be willing to buy 5-100 shares, depending on one's resources, if we knew we could, were we to amass a big enough pile of stock between us...

* fire the Sulzberger family

* fire Bill Keller

* and fire Risen and Lichtblau

* and furthermore shitcan them with NO SEVERENCE PACKAGES WHATSOEVER.

Is this possible?

Can we simply cash these fuckers out?

Bear in mind -- the money fronted for this would most likely be lost. We'd immediately alienate the liberal readership of the Times and destroy its reputation by tainting it with conservative ownership. But it might be money well-spent anyway.

First Things First: If anyone knows, please let me know if there's anyway to override the Sulzberger family's control over the company.

And how much stock would it take to take over? Just need a ballpark here.

Hope Springs Eternal? Andy the Squirrel concludes "you can't do anything," but...

Works like this- A shares 4 seats on the board. B shares get 13.

The Och Sulzberger family holds the B's. The B's represent a teeny tiny piece of the equity of the NYT. Basically, they got their cake and ate it too- They retained control, but got the cashola from going public.

Some investors, notably Morgan Stanley, are fighting about this, and withheld their votes for the last board election, along with 23% of the total A-share float.

This whole deal seems pretty hinky. If Morgan Stanley is "fighting it," well...

digg this
posted by Ace at 03:38 PM

| Access Comments

Recent Comments
Ciampino -- innovative techiques: "That Pluto discussion mentioned a Michael Brown. W ..."

Skip : "https://tinyurl.com/4c7ujpu8 Bad Blue Was dow ..."

Ciampino - innovative techiques: "87 I've been using dry ice on moles for years. Wor ..."

exodus 21:22-25: "Not jewish space laser 'but chinese spy balloon! C ..."

Skip : "https://tinyurl.com/4c7ujpu8 Bad Blue ..."

Puddleglum: "380: I wouldn't revel in those tears too much. The ..."

try tapping it now: "Tap-Tap-Tap.....is this thing on ? Posted by: JT ..."

San Franpsycho: "I'm not sure whose tears are sweeter, Ilhan Omar's ..."

San Franpsycho: "Local TV news reports a man entered our local chab ..."

San Franpsycho: "Good morning morons Didn't even make it to midn ..."

JT: "Tap-Tap-Tap.....is this thing on ? ..."

JT: "hiya ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64