The New York Times is completing plans to charge readers for online news after spending a year studying websites such as Consumer Reports and WeightWatchers. The New York Times, which in 2007 abandoned its first big effort to charge consumers to read its columnists online, is betting it can overcome readers' objections to paying for news they have grown accustomed to reading free of charge.
The New York Times posted its Q3 results for fiscal 2010, citing a $4.3 million net loss, compared with 35.7 million dollars in net loss a year ago. Total revenue fell 2.7 percent to 554.3 million dollars in the quarter as advertising revenue declined one percent and circulation revenue dropped 4.8 percent.
The New York Times announced today that Hugo Lindgren, former executive editor of Bloomberg Businessweek, has been named editor of The New York Times Magazine effective October 25
New York Times announced its figures for the second quarter of fiscal 2010, including a net income of $32.03 million, down from $39.06 million the year before. Total revenues increased 1.2% to $589.6 million from $582.7 million in the comparable period.
The New York Times named its next public editor, Arthur S. Brisbane, a journalist and news executive with 34 years experience, including as publisher and editor of The Kansas City Star and as a reporter and editor at The Washington Post.
The New York Times announced its results for Q1 2010, posting a net income of $12.8 million, up from a loss of $74.5 million the year before. Its revenue fell 3.2% from the year before to $588 million, beating analyst estimates of $578 million.
The New York Times newspaper will open bureaus this year in Phoenix and Kansas City, Missouri, according to an internal memo sent to staff.
The New York Times launched an iPad app known as NYT Editors’ Choice, which features a “limited selection of news, opinion and features” automatically updated to the device. The Times will unveil a more comprehensive iPad app later in the year, according to a person familiar with the company’s plans.
Rumor that Mexican Billionaire and NYT shareholder Carlos Slim will buy out NYT and take it private.
Debt and pension underfunding pressure eased during 2009 for the New York Times after it faced legacy pension obligations that had mounted considerably with the combination of more rigorous federal regulations and the tanking of the stock market (where much of any company's pension is invested) by the end of 2008.
The New York Times got yet another wake-up call when one of its journalists, Zachary Kouwe, resigned this week in the wake of a plagiarism debacle. This PR-nightmare comes at a time when the Times is trying to establish itself online, and could provide a pretty serious obstacle to its attempts at being taken seriously online.
Scott Galloway, a business and marketing professor at NYU and leader of a 2008 dissident shareholder campaign against The New York Times, has announced he will not stand for re-election to the company's board.
The New York Times announced its results for the fourth quarter of 2009, posting a revenue of $681.15 million, along with a net income of $90.92 million.
The New York Times announced a new "Reader Applications" division, motivated by the release of the Apple iPad. This new division will oversee products non-Apple devices like the Kindle, Sony Reader, and barnes $ Noble Nook
The New York Times, which has been throwing around the idea to charge users for online news for some time now, has decided that it will begin charging online readers of the newspaper from the beginning of 2011.
After weeks of discussions, the New York Times finally officially unveiled a plan to charge readers for unlimited access to the Web version of its newspaper beginning in 2011.
The New York Times may soon be charging customers for access to its website after a year of debate regarding the issue. The Times has decided that readers can sample a certain number of free articles before being asked to subscribe.
Although companies from the newspaper industry rarely make the top of Zacks Top Performers list, the New York Times broke that when its shares increased by nearly 10% the week before Christmas, due to the faster-than-expected improvements in the newspaper ad market. Analysts at Wells Fargo agreed, upgrading newspaper stocks after the industry recovered from advertising struggles faster than expected.
In a month that saw the Times reduce newsroom staff by 100 and dish out 5% paycuts, executive editor Bill Keller finally provided some good news, announcing that there will be no more layoffs and that the pay cuts will not carry over to 2010
The New York Times' drop in advertising revenue won't be as severe this quarter as it was earlier in the year and online ad sales are rising again, raising hopes that the newspaper publisher will regain its financial footing in 2010
After months of exploring possible sales options for the Worcester Telegram and Gazette, the New York Times has opted not to sell the paper, following its October decision to hold onto the Boston Globe
An analyst for The Market Oracle believes the New York Times may be going broke due to poor financial management, pointing to evidence such as the fact that stock buybacks and dividends have exceeded cumulative net income by $1.2 billion since the year 2000.
The New York Times recently announced its plans to publish a Chinese version of its style magazine, TMagazine
The newspaper industry continues to struggle, with the New York Times' circulation down by 7.3%
Less than a month after cutting 100 newsroom jobs, the New York Times announced on its website it expects to fire at least 25 editorial employees next year at the New York Times News Service.
According to a report by CNBC, Google could have its sights set on acquiring the NewYork Times. The Wall Street Journal states that Google's cash and short-term investments are up 53 percent to $22 billion in the third quarter from a year ago, putting Google in position to make a move on the Times and many targets.
The New York Times Company announced Q3 2009 numbers, obtaining $570.6 million in revenue and $7.5 million in net income, a 16.9% decrease and 8.8% increase, respectively.
The New York Times reported a Q3 loss of $35.6 million as its ad revenue remains stubbornly in decline
Dow Jones reported that The New York Times Company has given up its plan to sell The Boston Globe and related businesses after drastic cuts it imposed on the daily newspaper earlier this year improved its financial position
The New York Times has been offering to sell the Boston Globe and the Worcester Telegram & Gazette in tandem but a new entrant in the bidding process may increase the potential for a split. Former T&G Editor Harry Whitin and Polar Beverages CEO Ralph D. Crowley, Jr., are leading a group of Worcester businessmen interested in acquiring the Worcester Telegram
New York Times Company, Univision and WNYC announced the closing of the transactions related to WQXR-FM. Under the terms, Univision will pay the Times 3.5 million to exchange the FCC 105.9 FM broadcast license and transmitting equipment for the Times Company’s license, equipment and stronger signal at 96.3 FM
The New York Times is in talks to publish local editions in major cities such as Chicago and San Francisco later this year
The New York Times announced that it is open to offering voluntary buyouts in an attempt to avert additional layoffs as it seeks to further cut costs.
The New York Times issued a correction, an admission involving stock option awards and other incentives handed out in the past 19 months to the company's top two executives. In addressing the problems, the company took steps to ensure both executives will still have a chance to make almost as much money as the board originally intended.
NYT's Q2 2009 revenue fell 21.2% following declines in ad spending. However, the company implemented several hefty cost-cutting initiatives during the quarter like pay-cuts and layoffs, which helped the company earn $39.1 million in net income, up from $21.1 million in Q2 2008. This EPS of 27 cents beat the EPS of 15 cents a year earlier.
The NYT's board of directors voted to suspend its quarterly dividend of $.06, which had been previously reduced from $.23 earlier in the quarter. The move comes to provide the company with additional financial flexibility.
About.com laid off 19 people or about 9.5% of its workforce as part of a cost-cutting initiative because of the economic crisis.
The New York Times' profit fell 48% due to ongoing decreases in ad sales, severance packages and a de-valued International Herald Tribune.
The New York Times entered into preliminary talks with W.P. Carey & Co. to sell a large portion of its headquarters in midtown Manhattan. The sale-leaseback deal will raise an estimated $225 million for the company which hopes to fix its financial difficulties amid plummeting advertising sales.
The New York Times reported that it will receive $250 million in funding from companies controlled by Carlos Slim Helu. The injection will be used to refinance some of NYT's current debt.
NYT's dividend decreases from 23 cents last quarter to 6 cents this quarter.
The New York Times Company held its annual shareholders' meeting on April 22, 2008. Chairman Arthur Sulzberger Jr. made it very clear during the meeting that the company is not for sale.
New York Times Company released its 4Q '07 earnings results on January 22, 2008. Earnings per share were positive in this quarter at $0.37 compared to a loss of $4.50 per share in the same period of 2006.
The New York Times company released its third quarter earnings report on October 23rd. Their earnings beat analysts estimates, with a 6.7% gain in quarterly profit. The Times attracted new advertising from the fashion and movie industries. These, along with decreased printing costs allowed for positive third quarter results. Shares rose sharply, seeing a 10.9% gain over three days.
NYT's print advertising, which drives the bulk of the company's revenue, continues to fall. The overall print publishing industry has been suffering from People are spending increasing time on the Internet. The subprime lending crisis has compounded this effect, as real estate advertising has taken a turn for the worse.
NYT divested its television media properties to private equity group Oak Hill Partners. After this transaction, the company will no longer hold TV media properties.
An announcement that the New York Times Company witnesses a fall in advertising revenue causes the shares to fall from $23.81 to $23.23. The New York Times Company had just experienced a severe decrease in its stock value throughout the second half of the month of February.
New York Times Company shares rise from $22.90 to $25.97 amidst speculations that Warren Buffett might invest in the company. But, some analysts caution that the increase in the share value is due to a rise in shorted shares.