> By definition, any company whose stock is publicly traded is “for sale” every business day.
The publicly traded shares have highly restricted voting rights. Effective control resides in the preferred shares owned by the Ochs/Sulzberger families. If I recall correctly, those can’t be sold outside the family trust. So until a majority of the heirs decide to bail out, the Times is safe.
You are correct. But in practice, enough of the Class A shares can be accumulated to put pressure on the family and their Class B shares. Add to that the pressure that lenders (like Carlos Slim) can bring, and it can be done.
Now the question of who would want to buy it is another thing. They will be bankrupt within the next year or two, imo.