These holdings, individually and collectively, do not convey control, but these large investors can make themselves heard, and their actions can affect the welfare of the companies and their managers. ... If the managers fail to pursue actions that favor shareholder returns, institutional investors will be inclined to sell the stock (depressing its price), or to listen sympathetically to outsiders contemplating takeovers. These investors are a force helping press media companies toward strictly market (profitability) objectives.