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The New York Times Company
The New York Times Company () is an American media company. It is best known as the publisher of its namesake, The New York Times. Arthur Ochs Sulzberger, Jr. has served as Chairman of the Board since 1997.
OverviewHistoryThe company was founded by Henry Jarvis Raymond and George Jones in New York, New York. The first edition of the newspaper The New York Times was published on September 18, 1851, and states:[1] Company holdingsThe New York Times Company also owns The Boston Globe, the International Herald Tribune, almost two dozen other regional newspapers in the United States (15 of which publish daily), and one New York City radio station, WQXR. In 2005, its Broadcast Media Group included 35 web sites, including NYTimes.com, Boston.com and About.com.[2] In addition, it is a minority stakeholder in the Boston Red Sox, a position acquired as part of John W. Henry's purchase of the famed baseball team. The Boston Globe and other New York Times Company-owned newspapers acknowledge this relationship in articles about the team. Company stock profileSince 1967, The New York Times Company has been publicly traded and listed on the New York Stock Exchange by the symbol NYT. While the company offers two kinds of shares of its stock, Class A 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. Board of DirectorsAt the April 2005 Board meeting, Class B shareholders elected nine of the fourteen directors of the company.[3] ChronologyJanuary 1, 2003 ? The company completed its purchase of The Washington Post's 50 percent interest in the International Herald Tribune for $65 million.The Times Company, which had owned 50 percent of the IHT, became the sole owner.[4] March 18, 2005 ? The company acquired About.com, a leading online provider of consumer information for $410 million. In 2005 the company reported financial revenues of $3.4 billion to its investors. On August 25, 2006 ? The company acquired Baseline StudioSystems, a leading online database and research service for information on the film and television industries for $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.[5] 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.[6][7] 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 East side of Times Square, between 40th and 41st Street across from the Port Authority of New York & New Jersey Bus Terminal.[8]May 7, 2007 ? The company announced in a press release of May 17, 2007, that it had finalized the sale of its Broadcast Media Group on May 7, 2007, for "approximately $575 million."[7] See also
NotesExternal links
fr:New York Times Company no:The New York Times Company pt:New York Times Company ro:The New York Times Company Source: Wikipedia | The above article is available under the GNU FDL. | Edit this article
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