The Ownership and Governance of The New York Times: A Dive into its Publisher and Shareholder Structure

The New York Times, one of the most prestigious newspapers in the United States, is an independent, publicly traded corporation. Its ownership and governance are deeply rooted in a family legacy that spans over a century. This article aims to clarify the publisher and the ownership stake behind this influential newspaper, and explore the dynamics of its governance.

Who is the Publisher of The New York Times?

The publisher of The New York Times is A.G. Sulzberger. A.G. originally started out as the chairman of The New York Times Company. He is part of the fifth generation of the Sulzberger family, which has been involved with the newspaper since 1896 through Adolph Ochs, the newspaper's former owner.

The Sulzberger family's involvement with the newspaper can be traced to 1896 when Adolph Ochs acquired the newspaper. Since then, the family's influence has been consistently maintained through a unique share structure that preserves their control over the publication. As of 2020, the Sulzberger family continues to own about 90% of the private Class B shares, allowing them to retain substantial control despite no public voting rights for these shares.

The Shareholder Structure and Governance

The New York Times Company operates as a stand-alone public company. Anyone, including you, can purchase shares in this company. However, the share structure is designed to maintain the Sulzberger family's control. There are two classes of shares: Class A and Class B. Class A shares are publicly traded, while Class B shares are held privately by the descendants of Adolph Ochs.

Note that the Sulzberger family's control is not just about owning the majority of shares, but also through complex governance mechanisms. As of 2016, a Mexican billionaire, Carlos Slim, owned 17.4% of the company's Class A shares, but his ownership only allowed him to vote for a third of the company's board. This structure ensures that the Sulzberger family maintains a significant proportion of the voting power, even though not all shares are publicly traded.

Publication and Legal Compliance

The New York Times is governed by a dual-class share structure based on its shares being publicly traded. The company's annual proxy statement, often referred to as a DEF14A or DEFA14A, provides detailed information on its financials and governance. This document is available on SEC.gov, making it easy for shareholders and stakeholders to stay informed about the company's activities.

For more detailed information, one can peruse the SEC's website and look for the company's annual proxy statements. These documents are essential for understanding how the company is managed and governed, ensuring transparency and compliance with SEC regulations.

Conclusion

The New York Times is not just a newspaper; it is a cultural institution embedded in the American fabric. Its ownership and governance structure reflect a unique blend of family legacy and modern corporate governance. A.G. Sulzberger and the Sulzberger family continue to steer the ship, ensuring that the newspaper maintains its influence and integrity in the ever-evolving media landscape.

Understanding the publisher and ownership structure of The New York Times not only enhances one's appreciation of the news organization but also offers insights into the complexities of modern corporate governance.