Apr

24

New York Times Shareholders Withhold 42% of Votes (Update1)

April 24 (Bloomberg) — New York Times Co. shareholders, led by Morgan Stanley, withheld 42 percent of their votes from directors to protest the Sulzberger family's control over the company.

The family's willingness to let Pinch destroy their franchise says a lot about their priorities. The end game is already taking shape, as Pinch's brain, (Steven Rattner) has hinted at government protection/support for newspapers . there's precedent in anti-trust law already for favoring them thus.

And the analogy to the Ford family is imperfect. The Times "news" pages make no pretense at being anything but daily Democrat Party talking points and fodder for the international hate-America crowd. It is willful and purposeful: a choice to "spend" their credibility for a political cause. Whereas in the case of Ford, it's just stupidity.


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