Key Takeaways
- • Florida's State Board of Administration, the state-run public pension fund, is suing The New York Times to obtain company books and records, seeking to determine whether the board permits alleged biased editorial coverage of Israel.
- • The fund holds over 161,000 shares on behalf of more than 1.2 million retirees, per Florida Attorney General James Uthmeier.
- • The action is a shareholder petition jointly brought with the conservative think tank National Center for Public Policy Research, framed as a corporate governance matter.
- • The Times spokesperson called the petition meritless and an attempt to exert agenda-driven pressure on an independent media organization protected by the First Amendment.
- • The petition escalates an earlier letter from Uthmeier demanding years of internal records, citing an October 2023 article the Times later addressed with an editor's note.
Summary
Florida's state-run public pension fund is suing The New York Times to inspect company books and records, seeking materials to determine whether the newspaper's board is allowing what Florida officials describe as biased editorial coverage against Israel. The shareholder action escalates steps previously taken by Florida Attorney General James Uthmeier, who announced a formal shareholder petition against The New York Times Company this week. The petition was jointly brought by the State Board of Administration and the conservative think tank National Center for Public Policy Research.
Uthmeier argued in the petition that "in the absence of any board-level oversight, journalistic standards have been weaponized within the company," a condition he said threatens the company's economic value and reputation. He noted that the pension fund holds over 161,000 shares on behalf of more than 1.2 million retirees. At a September 23 press conference, Uthmeier said the Times tells its investors that its brand and reputation are its most important assets. He framed the matter as one of corporate governance rather than editorial discretion.
The petition follows a separate letter from Uthmeier to the Times demanding access to years of internal records and documents, citing concerns about how editorial standards might affect shareholder value. That letter pointed to at least two pieces on the Israel-Hamas war that drew corrections or significant pushback. One cited article, from October 2023, attributed an explosion to an Israeli strike based on a Hamas claim. Days later, the Times published an editor's note conceding its coverage "relied too heavily on claims by Hamas" and left readers with an incorrect impression of what was known.
The petition also relies in part on claims by an unnamed former Times newsroom employee who raised concerns about anti-Israel bias as early as 2019. The former employee alleges that a human resources employee told them, "Maybe you should go find a place whose values align with yours."
A New York Times spokesperson criticized the petition, telling the New York Post it has no merit. "Although it is positioned as a corporate governance petition to inspect the company's books and records, it is a transparent attempt to exert agenda-driven pressure against an independent media organization, level false allegations of bias and chill journalism protected by the First Amendment," the spokesperson said. Separately, Israeli Prime Minister Benjamin Netanyahu, in a U.N. address on Thursday, said Israel is also fighting a war over information, though he did not mention the Times specifically.
Uthmeier argued in the petition that "in the absence of any board-level oversight, journalistic standards have been weaponized within the company," a condition he said threatens the company's economic value and reputation. He noted that the pension fund holds over 161,000 shares on behalf of more than 1.2 million retirees. At a September 23 press conference, Uthmeier said the Times tells its investors that its brand and reputation are its most important assets. He framed the matter as one of corporate governance rather than editorial discretion.
The petition follows a separate letter from Uthmeier to the Times demanding access to years of internal records and documents, citing concerns about how editorial standards might affect shareholder value. That letter pointed to at least two pieces on the Israel-Hamas war that drew corrections or significant pushback. One cited article, from October 2023, attributed an explosion to an Israeli strike based on a Hamas claim. Days later, the Times published an editor's note conceding its coverage "relied too heavily on claims by Hamas" and left readers with an incorrect impression of what was known.
The petition also relies in part on claims by an unnamed former Times newsroom employee who raised concerns about anti-Israel bias as early as 2019. The former employee alleges that a human resources employee told them, "Maybe you should go find a place whose values align with yours."
A New York Times spokesperson criticized the petition, telling the New York Post it has no merit. "Although it is positioned as a corporate governance petition to inspect the company's books and records, it is a transparent attempt to exert agenda-driven pressure against an independent media organization, level false allegations of bias and chill journalism protected by the First Amendment," the spokesperson said. Separately, Israeli Prime Minister Benjamin Netanyahu, in a U.N. address on Thursday, said Israel is also fighting a war over information, though he did not mention the Times specifically.
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