Even Michael Bloomberg himself can’t kill the Bloomberg-saves-the-Times meme. But New York Times Company (NYT) Chairman Arthur Sulzberger Jr. did his best today to crush the notion (for some, a hope) that Bloomberg, or anyone, would take control of the Times and ensure its future.
“This company is not for sale,” Sulzberger said at the company’s annual shareholder meeting in New York. “This company will continue to have the ownership it enjoys today.”
Sulzberger called any speculation to the contrary “ill-informed.”
Unfortunately, there aren’t too many investors enjoying the current ownership. NYT shares are down 20% in 12 months and the company was forced to take two board members pushed by dissident shareholder group Harbinger and Firebrand.
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