The New York Times Company
Encyclopedia
The New York Times Company is an American media company best known as the publisher of its namesake, The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...

. Arthur Ochs Sulzberger, Jr. has served as Chairman of the Board since 1997. It is headquartered in Midtown Manhattan
Midtown Manhattan
Midtown Manhattan, or simply Midtown, is an area of Manhattan, New York City home to world-famous commercial zones such as Rockefeller Center, Broadway, and Times Square...

, New York City.

History

The company was founded by Henry Jarvis Raymond
Henry Jarvis Raymond
Henry Jarvis Raymond was an American journalist and politician and founder of The New York Times.-Early life and ancestors:...

 and George Jones
George Jones (publisher)
George Jones was an American journalist who co-founded with Henry Jarvis Raymond the New-York Daily Times, now the New York Times, publishing its first issue on September 18, 1851....

 in New York City. The first edition of the newspaper The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...

, published on September 18, 1851, stated: "We publish today the first issue of the New-York Daily Times, and we intend to issue it every morning (Sundays excepted) for an indefinite number of years to come."

Company holdings

The New York Times also owns the International Herald Tribune, The Boston Globe, 15 other daily newspapers and more than 50 Web sites, including NYTimes.com, Boston.com and About.com.

In addition, it is a minority stakeholder in the Boston Red Sox
Boston Red Sox
The Boston Red Sox are a professional baseball team based in Boston, Massachusetts, and a member of Major League Baseball’s American League Eastern Division. Founded in as one of the American League's eight charter franchises, the Red Sox's home ballpark has been Fenway Park since . The "Red Sox"...

, a position acquired as part of John W. Henry
John W. Henry
John William Henry II is a futures and foreign exchange trading advisor who founded John W. Henry & Company . He is the principal owner of the Boston Red Sox and Liverpool F.C., and co-owner of Roush Fenway Racing. In March 2006, Boston Magazine estimated his net worth at $1.1 billion, but noted...

's purchase of the famed baseball team. The Boston Globe
The Boston Globe
The Boston Globe is an American daily newspaper based in Boston, Massachusetts. The Boston Globe has been owned by The New York Times Company since 1993...

and other The New York Times Company-owned newspapers acknowledge this relationship in articles about the team.

Company stock profile

Since 1967, The New York Times Company has been publicly traded and listed on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...

 by the symbol NYT. While the company offers two kinds of shares of its stock
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

, Class A
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...

 and Class B, Class B shares are not publicly traded. The Class B shares provide a mechanism by which the descendants of Adolph Ochs, who purchased The New York Times newspaper in 1896, maintain control of the company by holding nearly 90 percent of this "special class of stock."

Board of Directors

At the April 2005 Board meeting, Class B shareholders elected nine of the fourteen directors of the company.

Chronology

January 1, 2003 – The company completed its purchase of The Washington Post
The Washington Post
The Washington Post is Washington, D.C.'s largest newspaper and its oldest still-existing paper, founded in 1877. Located in the capital of the United States, The Post has a particular emphasis on national politics. D.C., Maryland, and Virginia editions are printed for daily circulation...

50 percent interest in the International Herald Tribune
International Herald Tribune
The International Herald Tribune is a widely read English language international newspaper. It combines the resources of its own correspondents with those of The New York Times and is printed at 38 sites throughout the world, for sale in more than 160 countries and territories...

 (IHT) for US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

65 million. The New York Times Company, which had owned 50% of the IHT, became the sole owner.

March 18, 2005 – The company acquired About.com
About.com
About.com is an online source for original information and advice. It is written in English, and is aimed primarily at North Americans. It is owned by The New York Times Company....

, an online provider of consumer information for US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

410 million. In 2005, the company reported financial revenues of US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

3.4 billion to its investor
Investor
An investor is a party that makes an investment into one or more categories of assets --- equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc...

s.

On August 25, 2006 – The company acquired Baseline StudioSystems, an online database and research service for information on the film and television industries for US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

35 million.

September 12, 2006 – The company announced its decision to sell its Broadcast Media Group, consisting of "nine network-affiliated television stations, their related Web sites and the digital operating center," in a press release.

January 4, 2007 – The New York Times reported that The New York Times Company had reached an agreement to sell all nine local television stations to the private equity firm Oak Hill Capital Partners.

May 7, 2007 – The company announced in a press release on May 17, 2007, that it had finalized the sale of its Broadcast Media Group on May 7, 2007, for "approximately $
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

575 million."

November 19, 2007 – The company staged a gala opening after relocating its headquarters from its previous address, at 229 West 43rd Street, to The New York Times Building, at 620 Eighth Avenue, New York City, on the west side of Times Square
Times Square
Times Square is a major commercial intersection in the borough of Manhattan in New York City, at the junction of Broadway and Seventh Avenue and stretching from West 42nd to West 47th Streets...

, between 40th and 41st Street across from the Port Authority of New York & New Jersey Bus Terminal.

July 14, 2009 - The company announced that WQXR
WQXR-FM
WQXR-FM is an American classical radio station licensed to Newark, New Jersey, and serving the New York City metropolitan area. It is the most-listened-to classical-music station in the United States, with an average quarter-hour audience of 63,000...

 was to be sold to WNYC
WNYC
WNYC is a set of call letters shared by a pair of co-owned, non-profit, public radio stations located in New York City.WNYC broadcasts on the AM band at 820 kHz, and WNYC-FM is at 93.9 MHz. Both stations are members of National Public Radio and carry distinct, but similar news/talk programs...

, who on October 8, 2009 moved the station to 105.9 FM and began to operate the station as a non-commercial. This US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

45 million transaction, which would involve Univision Radio's
Univision Radio
Univision Radio is the radio division of media giant Univision Communications, Inc., which also ownsthe Univision television network. The company was formerly known as Hispanic Broadcasting Corporation. It is the eighth largest radio company in the United States, and the largest Hispanic radio...

 WCAA
WCAA
WXNY-FM is a radio station that broadcasts a Spanish language format. It is licensed to Univision Radio at 96.3 FM, and airs in the New York City metropolitan area.-History:...

 moving to the 96.3 FM frequency from 105.9 FM, signaled the end of the Times' 65-year ownership of the station.

Community awards

The company sponsors a series of national and local awards designed to highlight the achievements of individuals and organizations in different realms.

In 2007 it inaugurated its first Nonprofit Excellence Award, awarded to four organizations "for the excellence of their management practices". Only nonprofits
Nonprofit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...

 in New York City, Long Island
Long Island
Long Island is an island located in the southeast part of the U.S. state of New York, just east of Manhattan. Stretching northeast into the Atlantic Ocean, Long Island contains four counties, two of which are boroughs of New York City , and two of which are mainly suburban...

 or Westchester
Westchester County, New York
Westchester County is a county located in the U.S. state of New York. Westchester covers an area of and has a population of 949,113 according to the 2010 Census, residing in 45 municipalities...

 were eligible.

Jointly with the Carnegie Corporation of New York
Carnegie Corporation of New York
Carnegie Corporation of New York, which was established by Andrew Carnegie in 1911 "to promote the advancement and diffusion of knowledge and understanding," is one of the oldest, largest and most influential of American foundations...

 and the American Library Association
American Library Association
The American Library Association is a non-profit organization based in the United States that promotes libraries and library education internationally. It is the oldest and largest library association in the world, with more than 62,000 members....

, The New York Times Company sponsors an award to honor librarians "for service to their communities." The I Love My Librarian! award was given to ten recipients in December 2008, and presented by The New York Times Company president and CEO Janet L. Robinson
Janet L. Robinson
Janet L. Robinson is an American publishing executive, and became president and chief executive officer of The New York Times Company on December 27, 2004...

, Carnegie Corporation president Vartan Gregorian
Vartan Gregorian
Vartan Gregorian is an Armenian-American academic, serving as the president of Carnegie Corporation of New York. He is an ethnic Armenian, born in Iran....

 and Jim Rettig, president of the American Library Association
American Library Association
The American Library Association is a non-profit organization based in the United States that promotes libraries and library education internationally. It is the oldest and largest library association in the world, with more than 62,000 members....

.

In May 2009, the Company launched The New York Times Outstanding Playwright Award to honor an American Playwright who had recently had his or her professional debut in New York. The first winner was Tarell Alvin McCraney
Tarell Alvin McCraney
Tarell Alvin McCraney is an award-winning American playwright and actor. He is a member of Teo Castellanos/ D Projects Theater Company in Miami and in 2008 became RSC/Warwick International Playwright in Residence at the Royal Shakespeare Company...

 for his play "The Brothers Size". In 2010, Dan LeFranc won for his play "Sixty Miles to Silver Lake".

See also


External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
x
OK