New York Times Is Not for Sale, Got It?

Updated from 1:35 p.m. to include additional information, starting with the fourteenth paragraph.

NEW YORK (TheStreet) -- A few days after Jeff Bezos, the Amazon (AMZN) founder, purchased The Washington Post from the Graham Family, Arthur Sulzberger Jr., the fourth-generation publisher and chairman of New York Times (NYT), joined his cousin and vice-chairman, Michael Golden, for a conference call with the large and extended Ochs-Sulzberger family.

The topic was the future of family ownership of the country's best-known newspaper. Sulzberger wanted to get a sense of the family's mood following news of the Graham sale, a transaction he said sent "a shock through the institution." That Donald Graham chose to sell the Post turned speculation to The New York Times, the country's last family-owned major metropolitan newspaper.

Indeed, the Ochs-Sulzberger's continued ownership of the Times is a subject with no shortage of prognosticators and pretenders. Pundits and investors frequently weigh in on the subject, arguing that declining print advertising revenue combined with the challenges of making money online and the allure of a multibillion-dollar buyout should be enough to convince the family to sell.

"Everybody, as you might recall, said The Times is next, the Times is next," Sulzberger said on Thursday at an event organized by Media Matters and moderated by Alex Jones, director of the Shorenstein Center on Media, Politics and Public Policy at Harvard University. "Michael and I said we would like to send out a memo and want to sign it from the family. It was amazing, they all said 'yes, sign-it,' we are not selling The New York Times."

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