Steve Rattner Declares Times Co. Safe

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A Reuters item from this morning that's worth not overlooking:

NEW YORK (Reuters) — New York Times Co. investors should not expect the Sulzberger family to change the way it runs the company despite pressure to scrap its dual-class share structure, a close adviser to the publisher said on Wednesday.


"There's no possibility of it changing," Quadrangle Group managing principal Steven Rattner told the Reuters Hedge Funds and Private Equity Summit. "I don't think this is a situation where you're going to find some surprise ending to the story."

That's Steve Rattner, former Times reporter, billionaire media financier, and Arthur Sulzberger's best friend, declaring that the kvetching of Hassan Elmasry & Co. notwithstanding, the Sulzbergers, who control the Times Co. and can't be forced to change its stock structure or take it private unless they want to do so, don't want to do so. We suspect he knows of what he speaks.

Times Won't Change Structure: Adviser [Reuters]
Earlier: A Brief Rant Occasioned By Talk of a Potential Takeover Attempt at the New York Times Co.