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The New York Times Co. And Managing Expectations

Posted by: Jon Fine on April 24, 2007

The New York Times, “A Difficult Annual Times Meeting for Sulzbergers,” published just before this morning’s annual meeting of Times Co. shareholders:

“According to people who have spoken with [NY Times Co. Chairman Arthur Ochs Sulzberger Jr.], the family and the company are prepared for the possibility that the vote withheld might exceed 50 percent.”

Actual percentage of shareholder votes withheld: 42 percent.

In politics, they call this “better than expected.”

Still, dissident shareholder Hassan Elmasry of Morgan Stanley points out the salient issue in a statement his PR folk put out after the vote: once you subtract the family’s 19% share of the Class A shares, over half of the company’s shareholders essentially voted ‘no’ on the Times Co. status quo.



The media world continues to shapeshift as new forms arise and old assumptions erode. On this blog, Bloomberg Businessweek will provide sharp analysis and timely reports on the transformation of this constantly changing terrain.



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