Articles about "New York Times Co."


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9 takeways from the New York Times Co. 3rd quarter earnings call

The New York Times building in this 2009 file photo. (AP Photo/Mark Lennihan)

The New York Times building in this 2009 file photo. (AP Photo/Mark Lennihan)

The New York Times Co. joined McClatchy yesterday in booking a rare operating loss for the third quarter, $9 million or about 2.5 percent on revenues of $364.7 million.

But the many moving parts of the Times digital transformation effort had a number of positives mixed in as well. Here are nine takeaways:

  1. About that loss. It was driven by high costs associated with staff reductions ($20 million) and investment in new products. The first will be a one-time blip. But the Times will be launching and relaunching new digital versions for some time to come. Each is expensive to develop and market, and significant new revenues may be slow in coming.
  2. Equilibrium in ad and circulation revenues. A 17 percent year-to-year gain in digital advertising for the quarter roughly offset a 5 percent decline in print. 
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Reporter declines to reapply for her job, gets laid off

Good morning. Here are 10 media stories.

  1. Reporter declines to reapply for her job, gets laid off Burlington Free Press reporter Lynn Monty decided not to consummate the process of reapplying for her job last week. The Free Press, like many other Gannett papers, has asked staffers to reapply for jobs in reimagined “newsrooms of the future.” “I loved my job, but I don’t love Gannett,” Monty tells Paul Heintz. “I will make a new way for myself that doesn’t compromise my integrity.” (Seven Days)
  2. The last circulation report The Alliance for Audited Media will release its final print Snapshot report today. Because of more rule changes, “we advise against comparing year-over-year data,” AAM cautions. (AAM) | I wrote last October about how some other recent rules made comparisons difficult. (Poynter)
  3. Two attempts to explain why your friend Gordon is blue over the Jian Ghomeshi mess Canadians have an ” intrinsic and profound” relationship with the CBC, and the scandal further diminishes the institution, Adam Sternbergh writes.
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nyt-building

Ad revenue rises at New York Times Co.

The New York Times Company | The New York Times

Advertising and circulation revenue rose at The New York Times Company in the first quarter of 2014. Times Co. CEO Mark Thompson said in an earnings release that while the company is “pleased with this result,” it is “certainly not claiming victory in advertising yet.” Both digital and print advertising revenue rose, for a combined total that was 3.4 percent higher than the same period in 2013.

The Times’ native advertising product, Paid Posts, “launched very successfully” during this quarter, Thompson said.

The company says it now has about 799,000 digital-only subscribers, an increase of 39,000 over the first quarter of 2013. Circulation revenues were up 2.1 percent. It expects circulation revenue “to increase in the low-single digits in the second quarter of 2014″ over the same period in 2013.

The company’s operating costs went up 3.8 percent, “mainly due to higher compensation and benefits expenses associated with the strategic growth initiatives as well as higher retirement costs,” the earnings report says. Read more

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New York Times will launch new subscription products April 2

The New York Times plans to launch two new subscription products on April 2: NYT Now, a standalone iOS app that costs $8 a month, and Times Premier, which the company describes as a “premium subscription service designed for The Times enthusiast.”

NYT Now — which you can also access if you have a traditional digital and/or home delivery subscription — presents readers with what its lead editor, Clifford Levy, called “the most important and compelling stories from The New York Times over the course of the day,” and it will also serve up stories from other sections, depending on the time of day you look at the app. A screen called “Our Picks” takes readers to stories at other outlets, or sometimes to older New York Times stories. (The Times has no plans yet to build an Android version. “Our first step is launching on iPhone,” Times spokesperson Linda Zebian writes in an email.)

“We’re basically curating the Web so you don’t have to,” said Levy. Read more

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Lighted globes mark the loading docks of the New York Times building, Monday Jan. 23, 2005. Newspaper publisher New York Times Co. reports earnings for the fourth quarter on Tuesday, Jan. 24. The Times, which also owns the Boston Globe and International Herald Tribune, said in December it expects fourth-quarter earnings of 45 cents to 47 cents per share, sharply below year-ago profit of 75 cents, due to the difficult advertising environment. (AP Photo/Richard Drew)

New York Times digital subscriptions grew 19% in 2013

The New York Times Company | The New York Times

The number of digital subscriptions to New York Times Company products grew from 640,000 at the end of 2012 to 760,000 at the end of 2013, a gain of nearly 19 percent. Revenue from circulation was up about 4 percent over the previous year, the company’s year-end earnings report says.

Print advertising revenue was down 7 percent for the year, and digital advertising fell a little more than 4 percent over 2012. Over all, advertising revenue was down a little more than 6 percent.

Other revenue, which the company says includes “news services/syndication, digital archives, rental income and conferences/events,” dropped 2.5 percent.

In the fourth quarter of 2013, circulation revenue was down about 4 percent and ad revenue was down about 6 percent. Read more

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New York Times’ corporate site gets a data-filled makeover

On Tuesday, the first edition of the International New York Times debuted. The day before, the Times’ parent company’s website also got a fresh face.

On nytco.com, you’ll now see changing points of data over images from New York City, Paris and Hong Kong, as well as the company’s printing facility in College Point, Queens.

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New York Times Co. pays dividend for first time since 2008

The New York Times | The New York Times Co. | Bloomberg News

The New York Times Co. will pay shareholders a four-cent-per-share dividend next month, the company announced Thursday. It’s the first time since the end of 2008 that the company has made such a payment to its shareholders, Christine Haughney reports.

The dividend “will allow us to return capital to our shareholders while maintaining the financial flexibility necessary to continue to invest in the company’s transformation and various growth initiatives,” Times Co. Chairman Arthur Sulzberger Jr. said in a statement.

Members of the Ochs/Sulzberger family, who control ownership of the Times via one class of stock, have pushed for dividends to resume, Edmund Lee reports: “If the dividend remains at 4 cents a share, the family’s 13 percent stake in the company would give it $774,163 each quarter, or $3.1 million annually from the dividends.” Read more

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Mark Thompson: Keeping Nate Silver at NYT was not ‘an overwhelming priority’

New York

Joe Hagan’s look at New York Times Co. CEO Mark Thompson’s tenure so far contains many, many tweetable and chewable moments for New York Times obsessives — his presence in the newsroom “was like a belch in a cathedral nave,” for instance, and Sam Sifton was moved from the national desk to create an online magazine “inspired by the corporate consulting firm McKinsey & Co.”

But perhaps the most intriguing nugget is that Nate Silver decided to leave the Times “because he felt it was Thompson who had not committed to building his franchise.”

For [Executive Editor Jill] Abramson, Silver was a tentpole attraction for her favorite subject, national politics, and brought the kind of buzz she thought valuable. In an interview, Thompson confirmed that keeping Silver was not at the top of his agenda: “I would not say it was an overwhelming priority,” he says. “During the election period, he was obviously a very significant figure.

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New York Times website was down Wednesday

The New York Times’ website went down Wednesday morning. It went back up in the afternoon but service was intermittent. Poynter makes no representation about the availability of the site. Both the main Times site and the New York Times Co.’s corporate site were “experiencing a major cyber attack,” Matt Egan and Jennifer Booton report on Fox Business. “Our web site is down and we believe the outage is the result of an internal issue that we’re working on resolving,” Times spokesperson Eileen Murphy tells Poynter in an email.

While the site was down, the Times posted an article about Egypt to Facebook.

The Wall Street Journal announced on Twitter it would drop its paywall for two hours:

Twitter is also the place to go for jokes about the Times’ site being down: Read more

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Sulzberger: ‘The New York Times is not for sale’

The New York Times | Politico | New York

The Times is not for sale,” New York Times Publisher Arthur Sulzberger Jr. wrote in a memo to staff Wednesday evening. “Wednesday’s statement was released shortly after Mr. Sulzberger held a closed-door meeting with family members,” Christine Haughney reports.

Dylan Byers has the whole memo, which follows increasing speculation that the Sulzberger-Ochs family might be tempted to follow the lead of the Washington, D.C. Graham family and sell their newspaper. Read more

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