The New York Times Company
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Coordinates: 40°45′22″N 73°59′25″W / 40.75611, -73.99028

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The New York Times Company
Type	Public (NYSE: NYT)
Founded	September 18, 1851
Headquarters	New York, New York
Key people	Henry Jarvis Raymond, founder
Industry	Newspapers, radio broadcasting
Products	The New York Times, The Boston Globe, twenty-four other newspapers across the United States; one radio station, WQXR-FM in the New York area
Revenue	▲ $3.2 billion USD (2007)[1]
Operating income	▲ $227.4 million USD (2007)
Net income	▲ $208.7 million USD (2007)
Employees	11,965
Website	http://www.nytco.com/

The New York Times Company (NYSE: NYT) 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.

Overview

History

The company was founded by Henry Jarvis Raymond and George Jones in New York, New York.^{citation needed}

The first edition of the newspaper The New York Times was published on September 18, 1851, and states:

Company holdings

The 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.^{citation needed} In 2005, its Broadcast Media Group included 35 web sites, including NYTimes.com, Boston.com and About.com.^{citation needed}

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.^{citation needed} The Boston Globe and other New York Times Company-owned newspapers acknowledge this relationship in articles about the team.^{citation needed}

Company stock profile

Since 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.^{citation needed}. 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.^{citation needed}

Board of Directors

At the April 2005 Board meeting, Class B shareholders elected nine of the fourteen directors of the company.^[2]

Chronology of some notable company events

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January 1, 2003 – The company completed its purchase of The Washington Post's 50 percent interest in the International Herald Tribune for $65 million.^{citation needed} The Times Company, which had owned 50 percent of the IHT, became the sole owner.^{citation needed}

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.^{citation needed}

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.^{citation needed}

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.^[3]

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.^[4][5]

The New York Times Building

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.^[6]

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."^[5]

See also

• List of assets owned by New York Times Company
• Lists of corporate assets
• Local TV (Oak Hill Capital)

Notes

External links

• The Boston Globe – Official Website.
• International Herald Tribune – Official Website.
• The New York Times – Official Website.
• The New York Times Building Factsheet – Official illustrated press release of November 19, 2007 (Forest City Ratner Companies, Developer).
• The New York Times Company – Official Website.
• The New York Times Company Profile at Yahoo!.