A Class (B) Act

Description:

The May 28, 2007 issue of Business Week, on Page 12, has a list of companies in which a small number of people control a large percentage of the company. What this means is that, as in the case of the proposed Dow Jones takeover by Rupert Murdoch, these few people, such as the Bancroft family in the case of Dow Jones, can nix the deal.

Control is retained by a separate, supervoting class of stock, sometimes (but not always) designated as "Class B".

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