Ownership

The Ochs-Sulzberger family, one of the United States's newspaper dynasties, has owned The New York Times since 1896.^[13] After the publisher went public in the 1960s, the family continued to exert control through its ownership of the vast majority of Class B voting shares. Class A shareholders are permitted restrictive voting rights while Class B shareholders are allowed open voting rights. Dual-class structures caught on in the mid-20th century as families such as the Grahams of The Washington Post Company sought to gain access to public capital without losing control. Dow Jones & Co., publisher of The Wall Street Journal, had a similar structure and was controlled by the Bancroft family; the company was later bought by the News Corporation in 2007.

The Ochs-Sulzberger family trust controls roughly 88 percent of the company's class B shares. Any alteration to the dual-class structure must be ratified by six of eight directors who sit on the board of the Ochs-Sulzberger family trust. The Trust board members are Daniel H. Cohen, James M. Cohen, Lynn G. Dolnick, Susan W. Dryfoos, Michael Golden, Eric M. A. Lax, Arthur O. Sulzberger, Jr. and Cathy J. Sulzberger.

Turner Catledge, the top editor at The New York Times for almost two decades, wanted to hide the ownership influence. Sulzberger routinely wrote memos to his editor, each containing suggestions, instructions, complaints, and orders. When Catledge would receive these memos he would erase the publisher's identity before passing them to his subordinates. Catledge thought that if he removed the publisher's name from the memos it would protect reporters from feeling pressured by the owner.

The New York Times headquarters 620 Eighth Avenue