For himself and other holders of Class B supervoting shares, he got a 54% markup.
The Glazers will continue to control the company through a class of supervoting stock.
Ovshinsky and Iris have held on to the company through a separate class of supervoting shares.
The Ford family's supervoting rights date back to 1956, when the company went public.
The Times' supervoting shares have been around since the common shares were offered to the public in 1969.
But ousting Feldman, who controls a 37% stake through supervoting shares, may require nothing less than a coup.
Hockaday calls that a coincidence and says he thinks the impact of a family's supervoting rights tends to be overblown.
Still smarting from the loss of 454, he made sure this time to retain a supervoting share majority so he couldn't be forced out.
The Tisches do not control this company with any supervoting shares.
The Glazers will continue to control the company through a class of supervoting stock, meaning that new shareholders will have little say on the team's future.
Because the majority of her shares are Class A common stock, the mother of two does not enjoy the supervoting 10-to-1 status afforded by Class B shares.
FORBES: Sheryl Sandberg Finally Gets Liquid On Her Giant Facebook Stake But Is Still No Billionaire
Rupert Murdoch, whose family has controlled News Corp. through supervoting shares since 2004 (and which has business ties to FORBES), is hardly corporate governance buffs' ideal buyout candidate.
The good news for outsiders is that, in an era when doing wrong by holders has led execs to jail, supervoting shares no longer afford founders carte blanche.
Instead, Dow Jones is controlled by the Bancroft family, whose supervoting shares are supposed to ensure the firm is run like a public trust that forever puts journalism ahead of pecuniary interests.
Its ruling families have a long history of issuing themselves supervoting shares, either because their oligopoly power has simply enabled them to do so or by invoking the need to defend the fourth estate.
Then in 2005 the Bancrofts got then chief executive Peter Kann and their other board cronies to approve a plan under which the family can sell more than half of its supervoting shares and still control Dow Jones.
Rupert Murdoch, whose family has controlled News Corp. (nyse: NWS - news - people ) through supervoting shares since 2004 (and which has business ties to FORBES), is hardly corporate governance buffs' ideal buyout candidate.
Instead, Dow Jones (nyse: DJ - news - people ) is controlled by the Bancroft family, whose supervoting shares are supposed to ensure the firm is run like a public trust that forever puts journalism ahead of pecuniary interests.
When a Morgan Stanley (nyse: MS - news - people ) analyst recently began agitating for change at the New York Times Co. (nyse: NYT - news - people ), Chairman Arthur Sulzberger Jr. defended his family's supervoting power by claiming the nation's three preeminent newspapers--the New York Times, the Wall Street Journal and the Washington Post (nyse: WPO - news - people )--owe their journalistic greatness to control by families like his.
应用推荐