Part: 1234         Session: 1234         Page 222223224225226227228229230231232233234235236237238239240241242243244245246247248249250251252253254255256257258259260261 of 512

But from my point of view, I really think that that would not be my first priority. I feel that the Times has been so unique as a newspaper, upholding really quality journalism, that if it were, in order to maintain that position and to avoid doing what we have done, which is to popularize and spread it around and make us look just like the Washington Post or any other perfectly good newspaper, or the Los Angeles Times, but destroying our unique quality - I would like to think that I would have said, “OK, we're going to keep the Times as the quality paper it is, and let the rest of the company carry it, insofar as we can do that within reason.”

It's easy for me to say that, It admit. I would be a hell of a lot harder for me to act in that way if I were the president of a corporation that had a whole lot of stockholders yelling about the very narrow margin of profits that the Times was showing during these years, and indeed the stockholders were.

Although essentially, the A and B shares give a certain amount of insulation.

Well, total, because of the difference between voting and non-voting stock. There's no possible danger, as far as voting anybody out, as long as the Ochs Trust and the Ochs- Sulzberger family control, which they do, the majority of the voting stock. Of course. That's absolutely true.

But nevertheless, I have to recognize that he had this problem, of pressure to increase the profits, and I think he naturally wants to do that anyway. I think that's his natural bent,