Sulzberger family tighten grip on New York Times

The Sulzberger family is tightening its financial grip on the New York Times and the Boston Globe, according to an analysis carried out by the Boston Herald. It claims that since Arthur "Pinch" Sulzberger Jr. took over as chairman in 1997, the New York Times Co. has bought up almost one-third of the stock held by outsiders at a cost of £3bn (£1.6bn). "If you keep doing that over a period of years, at some point there's only one shareholder left standing," comments a fund manager. But outside investors still own 80% of the company. (Via bostonherald.com)