The CEO of The Post Defends The Times in The Journal

Donald Graham is the CEO of the Washington Post Company. He is the scion of the Graham family, which controls the Post through a dual stock structure. He explains that a dual stock structure allows a founding family or a subsequent private purchaser to use a class of public stock to exercise disproportionate voting power.

Graham writes in The Wall Street Journal, also controlled through a dual stock structure by the Bancroft family, that the dual stock ownership structure at The New York Times insulates it from efforts to subvert the company's public responsibilities in favor of short-term profits. Not so coincidentally the New York Times is controlled through a dual stock structure by the Sulzberger family. (More newspaper stories.)