The New York Times Company is an American media company that publishes the namesake, The New York Times . Arthur Ochs Sulzberger Jr. has been the chairman since 1997. Its headquarters are in Manhattan, New York.
Video The New York Times Company
History
The company was founded by Henry Jarvis Raymond and George Jones in New York City. The first edition of The New York Times newspaper, published on 18 September 1851, states: "We publish today the first edition of the New York Times, and we intend to publish it every morning. (Sunday excluded) for the number of years unlimited future. "
The company moved into the cable channel industry that bought 40% interest in the Popcorn Channel, a preview of local theatrical and film movies, in November 1994.
The Company completed the 50% purchase of 50% of The Washington Post at International Herald Tribune (IHT ) for US $ 65 million January 1, 2003, became the sole owner.
On March 18, 2005, the company acquired About.com, a provider of online consumer information for US $ 410 million. In 2005, the company reported revenues of US $ 3.4 billion to its investors.
The Times, on August 25, 2006, acquired Baseline StudioSystems, an online database and research service for the film and television industry for US $ 35 million.
The company announced on September 12, 2006, its decision to sell Broadcast Media Group, consisting of "nine network-affiliated television stations, their associated websites and digital operations center" The New York Times reported on 4 January 2007, that the company has reached an agreement to sell all nine local television stations to private equity firm Oak Hill Capital Partners, which then established a holding company for TV stations, LLC Locally. The Company announced that it has completed the sale of Media Broadcasting Group on May 7, 2007, for "approximately $ 575 million."
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 40 and 41 streets across from Port Authority of New York & New Jersey Bus Terminal.
On July 14, 2009, the company announced that WQXR will be sold to WNYC, which moved the station to 105.9 FM and started operating the station as non-commercial on October 8, 2009. It's a US $ 45 million transaction involving Univision. The WCAA radio moved to a frequency of 96.3 FM from 105.9 FM, ending 65 years of ownership of the station.
In December 2011, the company sold its Regional Media Group to Halifax Media Group, the owner of The Daytona Beach News-Journal, for $ 143 million. The Boston Globe and Telegram & amp; The sheets from Worcester are not part of the sale. In 2011, the Times sold Baseline StudioSystems back to its original owners, Laurie S. Silvers and Mitchell Rubenstein, majority shareholder of Project Hollywood LLC.
Facing a decrease in revenue from print ads in its flagship publication in 2011, The New York Times , the company introduced paywall to its website. In 2012, it has been simple, collecting several hundred thousand subscriptions and about $ 100 million in annual revenue.
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 done to focus more on its core brand.
Radio station
This paper purchased AM WQXR radio stations (1560 Ã, kHz) in 1944. His "sister" radio station, WQXQ, would be WQXR-FM (96.3 Ã, MHz). Branded as "The New York Times Radio Station ", the classical music radio format is broadcast on AM & amp; FM frequencies until December 1992, when the big-band and pop music formats from WNEW stations (1130 Ã, kHz - now WBBR/"Bloomberg Radio") were moved to and adopted by WQXR; in recognition of the format change, WQXR changed its call letter to WQEW (hybrid combination of " WQ XR" and "WN EW "). In 1999, The New York Times rented WQEW to Radio ABC for the "Radio Disney" format. In 2007, WQEW was eventually purchased by Disney; at the end of 2014, sold to Radio Keluarga (religious radio network) and became WFME. On July 14, 2009, it was announced that WQXR-FM would be sold to the WNYC radio group which, on October 8, 2009, moved the station from 96.3 to 105.9 Ã, MHz (frequency exchange with Spanish - the WXNY-FM language language, who wanted a stronger transmitter to increase its reach) and began operating it as a noncommercial public radio station. After purchase, WQXR-FM retains the classical music format, while WNYC-FM (93.9 x/span> MHz) leaves it, switches to talk radio format. Maps The New York Times Company
Company ownership
Along with the namesake papers, the company also owns the New York Times International Edition and their associated digital properties including NYTimes.com, as well as various brand related properties.
Ownership
Since 1967, the company has been listed on the New York Stock Exchange under the NYT symbol. Of the two categories of stocks, Class A and Class B, the first publicly traded and the last held privately --- mostly (nearly 90%) by the offspring of Adolph Ochs, who bought The New York Times newspaper in 1896.
Loan and investment Carlos Slim
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 businessman Mexico and the second richest man in the world, "helping newspaper companies finance their business". The New York Times then paid off the loan ahead of schedule. Since then, Slim has purchased a large number of Class A corporate shares, which are available for public purchase and offer fewer controls over the company than Class B shares, privately owned. Slim's investment in the company includes a massive purchase of Class A shares in 2011, when it increased its stake in the company to 8.1% of Class A shares, and again in 2015, when he exercised stock options - obtained as part of the payment plan back on the 2009 loan - to buy 15.9 Ã, million Class A shares, making it the largest shareholder. As of March 7, 2016, Slim owns 17.4% of its Class A shares, according to an annual filing filed by the company.
Although Slim is the largest shareholder in the company, his investments do not give him the ability to control newspapers, as his shares allow him to vote only for Class A directors, who make up only one-third of the company board. According to the company's 2016 annual submission, Slim does not own the company's Class B shares.
Board of directors
At the April 2005 board meeting, Class B shareholders voted nine of the company's fourteen directors.
Community awards
The company is sponsoring a series of national and local awards designed to highlight the achievements of individuals and organizations in various fields.
In 2007, he inaugurated his first Nonprofit Award Nomination, awarded to four organizations "for the excellence of their management practices". Only nonprofit agencies in New York City, Long Island, or Westchester are eligible.
Together with Carnegie Corporation of New York and the American Library Association, The New York Times Company sponsors an award for honoring librarians "to serve their community." Awards I Love My Librarian! Was awarded to ten recipients in December 2008, and presented by president and CEO of The New York Times Company Janet L. Robinson, president of Carnegie Corporation Vartan Gregorian, and Jim Rettig, president of the American Library Association.
In May 2009, the company launched The New York Times Outstanding Playwright Award in honor of an American playwright who just made his professional debut in New York. The first winner was Tarell Alvin McCraney for his game "The Brothers Size". In 2010, Dan LeFranc won for his game "Sixty Miles to Silver Lake".
See also
- List of companies based in New York City
Note
External links
- Official website
- International New York Times
- New Yimes Times Building
- "New York Times Companies Entering the 21st Century With New, Sophisticated and Sensitive Home Headquarters" (PDF) (Press Release). The New York Times Company. 19 November 2007. Ã,
Source of the article : Wikipedia
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