Sulzberger sells portion of NYT Co. stock

The New York Times | The Wall Street Journal

New York Times Company Chairman Arthur Sulzberger Jr. sold 50,000 shares of the company's Class A stock Aug. 8. The sale was part of "Arthur’s normal estate planning," Times spokesperson Eileen Murphy tells Christine Haughney.

Sulzberger coauthored a memo last week insisting the Times was not for sale.

The Sulzberger family controls the New York Times Company's board through its ownership of "most of the class B shares outstanding, which vote separately for a majority of the board members," William Launder writes in The Wall Street Journal.

After the sale, Mr. Sulzberger owns 173,675 class A shares directly, Monday's filing said. A filing with the SEC earlier this year showed that as of March 4, Mr. Sulzberger also owned about 851,000 stock options. Separately, he had an interest in several million class A and B shares held through a family trust, according to SEC filings. The earlier filing showed that the family's combined shareholding in the company has fallen to around 13%, down from 19% in 2010.

  • Andrew Beaujon

    Andrew Beaujon reported on the media for Poynter from 2012 to 2015. He was previously arts editor at and managing editor of Washington City Paper. He's the author of the 2006 book "Body Piercing Saved My Life," about Christian rock and evangelical Christian culture.


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