NY Times Boss: We're Not for Sale
Arthur Sulzberger firm following Washington Post purchase
By Matt Cantor, Newser User
Posted Aug 8, 2013 12:03 AM CDT
People pass the New York Times building in New York, Wednesday, Oct. 10, 2012.   (AP Photo/Richard Drew)

(Newser) – The Washington Post and Boston Globe may be changing hands, but don't expect the same fate for the New York Times, says publisher and chair Arthur Sulzberger Jr. "Will our family seek to sell the Times? The answer to that is no. The Times is not for sale," he says in a statement. The company has plenty of resources going forward, thanks in part to digital subscriptions, he says. "(We're) perfectly able to fund our future growth. The Times has both the ideas and the money to pursue innovation."

The Times achieved a profit in the latest quarter thanks to boosted circulation revenue and cheaper costs, it reports; net income hit $20.1 million, compared to an $87.6 million loss in the same period a year before. Meanwhile, paid digital subscriptions have surged 35% to 699,000. The company plans to expand further through "investment internationally, in video, in paid products, and in brand extensions," Sulzberger says. The Post's sale means the Times is now the only family-operated major US newspaper, the Times notes.

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Showing 3 of 4 comments
HMD-SMD-ITY
Aug 8, 2013 11:49 AM CDT
Funny saga from, "Newsies" as their beef is mainly with Hearst (Journal) and Pulitzer (World) but they do have one song that says ,"Times too." In the end, the strike went city wide and they finally settled. I know in my town not a lot has changed as I don't understand why anyone would want to deliver papers. I know there is some coin but you have to really earn it. The paper comes out 2AM. You get your stacks and then you have to fold and sack them depending on the weather. Then you hit the streets and hit the customers with which you have contracts. Some of them go months behind on the bill but the circulation office won't let you cut them off. You get done and you always have some papers left over. Well that's your fault even though you can break a bundle to get your exact amount. So you have to eat those extra copies. I do know a resourceful tosser who rigged up a canon to shoot papers out his passenger window. When I did take the paper I heard that thud on my door around 5AM each morning. I finally was out one day and saw his rig. I wonder if he ever hurt anyone with it.
Motherchucker
Aug 8, 2013 11:30 AM CDT
That's good news. One of the only papers left with articles that challenge the accepted status quo. Once all of the papers are controlled by a few you can welcome disinformation and loss of independent news and thought. This isn't free market people, it is the loss of democracy and integrity of the people. But, just throw some mass entertainment out and people glaze over and like cattle in a pen, go to the slaugterhouse dazed.
Fatquah
Aug 8, 2013 9:09 AM CDT
Because they've already sold out to the LiberalLieMachine™