The New York Times Company (NYT) isnt just reporting the news its making the news. At yesterdays annual meeting, shareholders withheld 28% of their votes for the four directors elected by holders of the companys common stock. Nine other directors are elected by holders of the Class B shares, effectively granting control of the company to a group holding less than a 1% economic interest in the business.
Most of the large newspaper companies have not done a great job o…