Tensions build between investors and families that control newspaper companies

Bingo.

This is what the NY Times is going through, a Morgan Stanley money manager who bought a ton of Class A (or the lesser class) stock -- fully well aware of the fact his stock had one-tenth the voting power of the Class B stock -- and now wants to change the rules because the NY Times is making "only 12 percent."

Nobody's telling him he had to buy the stock. If it isn't fitting in with your fund's objectives, sell it like you would anything else.

This article isn't breaking any new ground. The Binghams in Louisville, the Pulitzers and the Chandlers in LA underwent similar internecine brawling which led to the breakup of their empires.

The upshot here: the Bancrofts probably won't be able to resist a $60 a share offer.

 

This is what the Bancrofts will find out.
$60 a share is wonderful. And, you're right, they probably won't be able to resist it.
BUT...With out Dow Jones & Co., they're going to have to pay taxes just like the rest of us.
No more billion dollar tax shield. Ask the Chandlers what they think of that.