Sulzberger Heirs Looking to Unload Inherited New York Times Stock

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NEW YORK - APRIL 21: A man speaks on his mobile phone across from The New York Times headquarters building April 21, 2011 in New York City. The New York Times profits fell 58 percent in the first quarter of 2011. (Photo by Ramin Talaie/Getty Images)
Photo: Ramin Talaie

Late New York Times publisher Arthur Ochs Sulzberger left his four children $41 million in New York Times Company shares, at least some of which the family will now move to sell as soon as possible, DNAinfo reports. In order to do so without breaking the rules — or affecting the stock price — three of the heirs with business ties to the company have renounced their rights as executors of the will, for now, including current Times publisher Arthur Sulzberger Jr. Once that's out of the way, the siblings will deal with the rest of the will, like the $5 million Fifth Avenue apartment and the $7 million Southampton estate. Eventually, they'll figure out what they want to do with that newspaper too.