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The New York Times Company

From Wikipedia, the free encyclopedia

The New York Times Company
Public company
Traded asClass A Common Stock: NYSENYT
S&P MidCap 400 Index component
Class B Common Stock: unlisted
FoundedSeptember 18, 1851; 167 years ago (1851-09-18)
FoundersHenry Jarvis Raymond
George Jones
United States
Key people
Arthur Ochs Sulzberger Jr.
Mark Thompson
(President and CEO)
ProductsThe New York Times
International New York Times
Other media properties
RevenueIncrease US$1.676 billion (2017)
Increase US$112.366 million (2017)
Decrease US$4.296 million (2017)
Total assetsDecrease US$ 2.100 billion (2017)
Total equityIncrease US$897.279 million (2017)
OwnerSulzberger family (13%)

Carlos Slim (17%)
Number of employees
3,700 (December 2017)
Footnotes / references

The New York Times Company is an American mass media company which publishes its namesake newspaper, The New York Times. Arthur Ochs Sulzberger Jr. has served as chairman since 1997.[5][6] It is headquartered in Manhattan, New York.[7]

YouTube Encyclopedic

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  • ✪ Protecting Whistleblowers | New York Times Co. v. United States
  • ✪ New York Times Co. v. Sullivan |


Mr. Beat presents Supreme Court Briefs Washington D.C., June 17, 1967 Secretary of Defense Robert McNamara creates the Vietnam Study Task Force at the Pentagon to create a study of the Vietnam War, which, by the way, was raging on the time with no end in sight. This study was to remain classified but released to the public eventually, as McNamara wanted to leave a written record for historians. Working on this task force was a dude named Daniel Ellsberg, who became very troubled by what he found. You see, the Pentagon was telling the American public one thing, but actually doing other things. For example, the Pentagon was lying about escalating the war even when victory was hopeless. It had covered up doing some quite horrible things, like illegal bombings in places like Cambodia and Laos, and the use of chemical warfare. Well Ellsberg, who had become strongly against the Vietnam War, decided he was going to fight the power! In October 1969, he and his friend Anthony Russo began secretly photocopying pages from this study, which eventually became known as The Pentagon Papers. By the way, the Pentagon Papers were thousands of pages long. So yeah, he photocopies and decides to take them to the press to expose all of the Pentagon’s dirty secrets. In March 1971, he gave 43 volumes of the Pentagon Papers to Neil Sheehan, a reporter for The New York Times. On June 13, 1971, the New York Times began publishing a series of articles based on what Ellsberg had leaked. It also included excerpts from the actual Pentagon Papers. When President Richard Nixon read these articles, he was like, “this kind of makes our government look, isn’t this putting our national security at risk?” By the way, that’s EXACTLY how he sounded. A couple days later, the Nixon administration got a federal court to force the New York Times to stop publishing articles about the Pentagon Papers. Nixon’s Attorney General, John Mitchell, argued that Ellsberg and Russo were guilty of breaking the Espionage Act of 1917, so this “prior restraint,” or pre-publication censorship, was justified. In fact, the Nixon administration argued that the Times publishing the Pentagon Papers put the country’s security at risk. Meanwhile, the Washington Post got in on the action and began publishing its own articles about the Pentagon Papers. The assistant U.S. Attorney General, William Rehnquist, a future Supreme Court chief justice, also tried to prevent the Post from publishing any more Pentagon Papers secrets. Eventually, 17 other newspapers published parts of the study. On June 28, 1971, Ellsberg surrendered to face criminal charges under the Espionage Act. The next day, a young Senator named Mike Gravel, who inexplicably throws a rock in a pond later in life, read the Pentagon Papers out loud for three hours, entering them into the Senate record. As you could imagine, by the time the American public is fired up about the revelations contained in these documents. Newspapers kept publishing stories about the Pentagon Papers, and the District Court for the District of Columbia and Court of Appeals for the DC Circuit both let them, so the Supreme Court decided to quickly step in, combining the cases against both the New York Times and the Washington Post. In case you hadn’t figured this one out by now, this was an obvious First Amendment issue. The Court heard arguments about whether or not the Nixon administration's efforts to prevent the publication of the Pentagon Papers went against the First Amendment. Was prior restraint justified? Did releasing this information put national security at risk? The Court decided “no.” On June 30, 1971 (man that went quickly) the Court announced it had sided with The New York Times and Washington Post, voting 6-3. It said prior restraint was not justified, and that the press releasing the Pentagon Papers did not put the nation’s security at risk. It sure made a lot of Americans upset though, and caused many to lose their trust in their government. Justice Hugo Black wrote, “In the First Amendment the Founding Fathers gave the free press the protection it must have to fulfill its essential role in our democracy. The press was to serve the governed, not the governors. The Government's power to censor the press was abolished so that the press would remain forever free to censure the Government.” I would read the whole quote to you but it’s kind of long, but dang it’s a good quote. Props, Hugo. New York Times v. United States, aka The Pentagon Papers Case, was a win for the First Amendment. If the press publishes something that makes the government looks bad, the government can’t stop it, just because it makes it look bad. So whatever happened to Daniel Ellsberg and his friend Anthony Russo? They were still charged under the Espionage Act, looking at a maximum sentence of 115 years in prison. However, due to government misconduct and its shady ways of getting evidence, a federal court judge later dismissed all charges against them. Daniel Ellsberg is still alive today, still actively supporting whistleblowers like him who continue to expose government corruption. I’ll see you for the next Supreme Court case, jury! Why did I make this episode now? Well, there’s the whole President Trump not wanting this book out that makes him look bad thing but also there's this new movie that just came out, called The Post. the story of the leaking of the Pentagon Papers And in it, of course, it dramatizes New York Times v. United States. So I figured, it's a good time to release this episode. Yay for history movies! We'll see you next week. Thank you for watching!



The company was founded by Henry Jarvis Raymond and George Jones in New York City. The first edition of the newspaper The New York Times, 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 infinite years to come."[8]

The company moved into the cable channel industry purchasing a 40% interest in the Popcorn Channel, a theatrical movie preview and local movie times, in November 1994.[9]

The company completed its purchase of The Washington Post's 50 percent interest in the International Herald Tribune (IHT) for US$65 million on January 1, 2003, becoming the sole owner.[10]

On March 18, 2005, the company acquired, an online provider of consumer information for US$410 million.[11] In 2005, the company reported revenues of US$3.4 billion to its investors.[citation needed]

The Times, on August 25, 2006, acquired Baseline StudioSystems, an online database and research service on the film and television industries for US$35 million.[12]

The company announced on September 12, 2006, its decision to sell its Broadcast Media Group, consisting of "nine network-affiliated television stations, their related Web sites and the digital operating center".[13] The New York Times reported on January 4, 2007, that the company had reached an agreement to sell all nine local television stations to the private equity firm Oak Hill Capital Partners, which then created a holding company for the stations, Local TV LLC.[14][15] The company announced that it had finalized the sale of its Broadcast Media Group on May 7, 2007, for "approximately $575 million".[15]

The company moved from 229 West 43rd Street to The New York Times Building at 620 Eighth Avenue, on the west side of Times Square, between 40th and 41st streets across from the Port Authority of New York & New Jersey Bus Terminal.[16]

On July 14, 2009, the company announced that WQXR was to be sold to WNYC, which moved the station to 105.9 FM and began to operate the station as non-commercial on October 8, 2009. This US$45 million transaction, which involved Univision Radio's WCAA moving to the 96.3 FM frequency from 105.9 FM, ended the Times' 65-year-long ownership of the station.[17]

In December 2011, the company sold its Regional Media Group to Halifax Media Group, owners of The Daytona Beach News-Journal, for $143 million. The Boston Globe and The Telegram & Gazette of Worcester were not part of the sale.[18] In 2011, the Times sold Baseline StudioSystems back to its original owners, Laurie S. Silvers and Mitchell Rubenstein, majority shareholders of Project Hollywood LLC.[12]

Facing falling revenue from print advertising in its flagship publication in 2011, The New York Times, the company introduced a paywall to its website. As of 2012, it has been modestly successful, garnering several hundred thousand subscriptions and about $100 million in annual revenue.[19]

In 2013, the New York Times Company sold The Boston Globe and other New England media properties to John W. Henry, the principal owner of the Boston Red Sox. According to the Times Company, the move was made in order to focus more on its core brands.[20][21]

Radio stations

The paper bought AM radio station WQXR (1560 kHz) in 1944.[22] Its "sister" FM station, WQXQ, would become WQXR-FM (96.3 MHz). Branded as "The Radio Stations of The New York Times", its classical music radio format was simulcast on both the AM & FM frequencies until December 1992, when the big-band and pop standards music format of station WNEW (1130 kHz – now WBBR/"Bloomberg Radio") was transferred to and adopted by WQXR; in recognition of the format change, WQXR changed its call letters to WQEW (a "hybrid" combination of "WQXR" and "WNEW").[23] By 1999, The New York Times was leasing WQEW to ABC Radio for its "Radio Disney" format.[24] In 2007, WQEW was finally purchased by Disney; in late 2014, it was sold to Family Radio (a religious radio network) and became WFME.[25] On July 14, 2009, it was announced that WQXR-FM would be sold to the WNYC radio group who, on October 8, 2009, moved the station from 96.3 to 105.9 MHz (swapping frequencies with Spanish-language station WXNY-FM, which wanted the more powerful transmitter to increase its coverage) and began operating it as a non-commercial, public radio station.[26] After the purchase, WQXR-FM retained the classical music format, whereas WNYC-FM (93.9 MHz) abandoned it, switching to a talk radio format.

Company holdings

Alongside its namesake newspaper, the company also owns the New York Times International Edition and their related digital properties including, as well as various brand-related properties.[27]


Since 1967, the company has been listed on the New York Stock Exchange under the symbol NYT. Of the two categories of stock, Class A and Class B, the former is publicly traded and the latter is held privately—largely (nearly 90%) by the descendants of Adolph Ochs, who purchased The New York Times newspaper in 1896.

Carlos Slim loan and investment

On January 20, 2009, The New York Times reported that its parent company, The New York Times Company, had reached an agreement to borrow $250 million from Carlos Slim, a Mexican billionaire "to help the newspaper company finance its businesses".[28] The New York Times Company later repaid that loan ahead of schedule.[29] Since then, Slim has bought large quantities of the company's Class A shares, which are available for purchase by the public and offer less control over the company than Class B shares, which are privately held.[29] Slim's investments in the company included large purchases of Class A shares in 2011, when he increased his stake in the company to 8.1% of Class A shares,[30] and again in 2015, when he exercised stock options—acquired as part of a repayment plan on the 2009 loan—to purchase 15.9 million Class A shares, making him the largest shareholder.[29][31] As of March 7, 2016, Slim owned 17.4% of the company's Class A shares, according to annual filings submitted by the company.[32][33][34] While Slim is the largest shareholder in the company, his investment only allows him to vote only for Class A directors, a third of the company's board.[29]

Community awards

2008 I Love My Librarian award recipients Linda Allen and Margaret "Gigi" Lincoln talk with Janet Robinson in The New York Times Building.
2008 I Love My Librarian award recipients Linda Allen and Margaret "Gigi" Lincoln talk with Janet Robinson in The New York Times Building.

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 in New York City, Long Island, or Westchester were eligible.[35]

Jointly with the Carnegie Corporation of New York and the American Library Association, 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, Carnegie Corporation president Vartan Gregorian, and Jim Rettig, president of the American Library Association.[36]

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.[37] The first winner was Tarell Alvin McCraney for his play "The Brothers Size".[38] In 2010, Dan LeFranc won for his play "Sixty Miles to Silver Lake".[39]

See also


  1. ^ The New York Times Company 2017 Annual Report (PDF) (Report). The New York Times Company. February 27, 2018.
  2. ^ "Mexican Billionaire Invests in Times Company". The New York Times. January 20, 2009.
  3. ^ "The Sulzberger Dynasty Tightens Its Grip on the New York Times". Fortune. October 19, 2016.
  4. ^ Vinton, Kate (June 1, 2016). "These 15 Billionaires Own America's News Media Companies". Forbes.
  5. ^ "Times Publisher and His Wife Separate". The New York Times. May 10, 2008.
  6. ^ "Arthur Sulzberger, Jr. Biography" Archived December 19, 2010, at the Wayback Machine
  7. ^ "Contact Us". The New York Times Company. Archived from the original on May 6, 2009. Retrieved August 28, 2009.
  8. ^ "Timeline". The New York Times Company. Archived from the original on September 14, 2008. Retrieved September 29, 2008.
  9. ^ (November 28, 1994). "The New York Times Co. has decided to enter the cable network business by taking a 40% stake in the soon-to-be-launched Popcorn Channel. (Brief Article)." Broadcasting & Cable. NewBay Media LLC. 1994. Retrieved April 27, 2015 from HighBeam Research.
  10. ^ Kirkpatrick, David D. (January 2, 2003). "International Herald Tribune Now Run Solely by The Times". The New York Times. Retrieved August 29, 2008. The International Herald Tribune, descendant of an American paper first published in Paris in 1887, is appearing today for the first time under the sole ownership and management of The New York Times Company. The takeover ends an anomalous 35-year partnership between The Times and its domestic competitor The Washington Post that produced a journalistic hybrid consisting mainly of articles and editorials from both papers compiled by editors in Paris. In October, The Times reached an agreement to buy The Post's 50 percent stake in the venture for about $70 million -- in part, The Post said, by threatening to start a rival paper overseas.
  11. ^ Teather, David (2005-02-17). "New York Times buys". The Guardian. ISSN 0261-3077. Retrieved 2017-01-08.
  12. ^ a b "NY Times Sells TV/Movie Database Baseline". Deadline Hollywood. October 7, 2011.
  13. ^ "The New York Times Company Announces Plan to Sell Its Broadcast Media Group" (Press release). The New York Times Company. September 12, 2006. Retrieved July 23, 2008.
  14. ^ Story, Louise (January 4, 2007). "New York Times to Sell 9 Local TV Stations". The New York Times. Retrieved August 23, 2008.
  15. ^ a b "The New York Times Company Reports April Revenues" (Press release). The New York Times Company. May 17, 2007. Archived from the original on July 22, 2012. Retrieved August 23, 2008. On May 7, 2007, the Company sold the Broadcast Media Group, consisting of nine network-affiliated television stations, their related Web sites and the digital operating center, for approximately $575 million.
  16. ^ "The New York Times Company Enters The 21st Century With A New Technologically Advanced And Environmentally Sensitive Headquarters" (PDF) (Press release). The New York Times Company. November 19, 2007. Archived from the original (PDF) on August 24, 2008. Retrieved August 23, 2008.
  17. ^ Bensinger, Greg (July 14, 2009). "New York Times to Get $45 Million for Radio Station". Bloomberg News. Retrieved July 18, 2009.
  18. ^ Staff/wire reports (December 27, 2011). "New York Times agrees to sell regional news group". The Boston Globe. Retrieved December 30, 2011.
  19. ^ Sass, Erik (March 12, 2012). "'NYT' Pay Wall Could Bring $100M Annually". Media Daily News. Retrieved March 13, 2012.
  20. ^ Christine, Haughney (August 3, 2013). "New York Times Company Sells Boston Globe". The New York Times. Retrieved 4 August 2013.
  21. ^ "Red Sox Principal Owner to Buy Boston Globe Newspaper". The Wall Street Journal. August 3, 2013. Retrieved August 5, 2013.
  22. ^ "New York Times Timeline 1941–1970". The New York Times Company. Archived from the original on September 7, 2008. Retrieved September 16, 2008.
  23. ^ Kozinn, Allan (October 21, 1992). "WQXR-AM to Change Its Format, to Popular Music From Classical". The New York Times. Retrieved September 16, 2008.
  24. ^ Blumenthal, Ralph (December 2, 1998). "WQEW-AM: All Kids, All the Time". The New York Times. Retrieved September 16, 2008.
  25. ^ Family Radio Returns To New York – RadioInsight Archived February 21, 2015, at the Wayback Machine November 21, 2014
  26. ^ Bensinger, Greg (July 14, 2009). "New York Times to Get $45 Million for Radio Station". Bloomberg News. Archived from the original on February 16, 2012. Retrieved July 18, 2009.
  27. ^ "Business Units". The New York Times Company. Archived from the original on August 30, 2008. Retrieved August 29, 2008. The New York Times Company, a leading media company with 2007 revenues of $3.2 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other daily newspapers, WQXR-FM, and more than 50 Web sites, including,, and The Company's core purpose is to enhance society by creating, collecting, and distributing high-quality news, information, and entertainment.
  28. ^ Dash, Eric (January 19, 2009). "Mexican Billionaire Invests in Times Company". The New York Times. Retrieved July 1, 2012.
  29. ^ a b c d Laya, Patricia; Smith, Gerry (January 14, 2015). "Billionaire Carlos Slim Doubles Holdings in New York Times". Bloomberg News. Retrieved June 20, 2015.
  30. ^ Saba, Jennifer (October 6, 2011). "Carlos Slim increases stake in NY Times". Reuters. Retrieved July 1, 2012."
  31. ^ "Carlos Slim becomes top New York Times shareholder". January 14, 2017 – via Reuters.
  32. ^ "The New York Times Company Notice of 2016 Annual Meeting and Proxy Statement" (PDF). The New York Times Company. March 22, 2016. Retrieved October 28, 2016.
  33. ^ "Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, for The New York Times Company (Form 10-K)". Securities and Exchange Commission. February 24, 2016. Retrieved October 28, 2016., See Item 12, which states, "The information required by this item is incorporated by reference to the sections titled "Principal Holders of Common Stock," "Security Ownership of Management and Directors" and "The 1997 Trust" of our Proxy Statement for the 2016 Annual Meeting of Stockholders.
  34. ^ Stiles, Andrew (27 May 2016). "New York Times Is Very Concerned About Billionaire Media Investors—But Not Their Billionaire Investor". Heatstreet. Dow Jones & Company, Inc. Retrieved 29 May 2016. Slim doubled his stake in the Times to 16.8 percent last year after exercising options tied to a $250 million loan he gave the company that helped it survive the financial downturn in 2009. His current stake in the company is valued at more than $300 million.
  35. ^ "The New York Times Company Announces Four Winners of Its First Nonprofit Excellence Awards" (Press release). The New York Times Company. June 28, 2007. Retrieved December 10, 2008.
  36. ^ "Carnegie Corporation of New York/New York Times I Love My Librarian Award winners announced" (Press release). American Library Association. December 8, 2008. Retrieved February 3, 2009.
  37. ^ Healy, Patrick. "Times's Outstanding Playwright Award Goes to Kristoffer Diaz". ArtsBeat. Retrieved 2017-02-12.
  38. ^ Joseph, Chris (2011-08-31). "Tarell Alvin McCraney Brings His Award-Winning The Brothers Size Home to Miami". Miami New Times. Retrieved 2017-02-12.
  39. ^ "The New York Times Company - Dan LeFranc Wins the 2010 New York Times Outstanding Playwright Award For "Sixty Miles to Silver Lake"". Retrieved 2017-02-12.

External links

This page was last edited on 23 March 2019, at 18:37
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