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NEWS ABOUT: New York Times Company

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Globe's Rank-and-File Will Take Pay Cuts—if Execs Do

Management, unions sit down

(Newser) - Unionized Boston Globe employees say they’re willing to make sacrifices to save their foundering newspaper—but only if executives and managers do the same, the Globe reports. “If management is willing to lead us, to take pay cuts and concessions, I'm sure the union would be willing,”... More »

Sulzberger: the Wrong Savior for the New York Times

(Newser) - Newspaper scion Arthur Sulzberger Jr., who "has spent a lifetime faithfully placing his feet in his father’s footsteps," Mark Bowden writes in Vanity Fair, may be exactly the wrong guy to pull the New York Times out of the financial death spiral it seems to be in.... More »

Times Co. Sells HQ for $225M

Debt-laden paper enters sale-leaseback with investment firm

(Newser) - The New York Times Company has raised $225 million through a sale-leaseback of its Eighth Avenue skyscraper, it announced this morning. The deal gives investment firm WP Carey ownership of the Times' share of the Renzo Piano-designed headquarters, which the newspaper moved into in 2007. The company will then lease... More »

Times Says Times Will Survive

(Newser) - Rumors of the New York Times’ demise are greatly exaggerated, reports... the New York Times. “Despite some published alarms to the contrary, the company has positioned itself to ride out another year of recession, maybe two,” Richard Péréz-Peña writes in a review of his employer’... More »

Does Carlos Slim Want to Buy the Times?

As dividends dwindle, Mexican billionaire may move in on paper

(Newser) - Last week Carlos Slim, the world's second-richest man, lent $250 million to the New York Times Company—but why does he want 18% of a tanking media outfit? Advertising Age speculates that the Mexican tycoon is playing a long game: The loan is peanuts to Slim, but it puts him... More »

Slim Loans NYT Co. $250M

Mexican billionaire will own 17% of company, but gets no special voting shares

(Newser) - The New York Times Company announced last night that it had cut a deal with Mexico's Carlos Slim, the world's second-richest man, for a $250 million loan. Slim will receive common shares over six years, at the end of which he will own 17% of the corporation. But he will... More »

NYT Ready to Sell BoSox Stake

As newspapers tank, company offloads non-core assets

(Newser) - With revenues plummeting and advertisers and readers fleeing, the cash-starved New York Times Co is looking to offload a once-sacrosanct asset—its 17.5% stake in the Boston Red Sox and Fenway Park, the Wall Street Journal reports. Revenues at the Times Co arm that includes the Grey Lady and... More »

Web Copyright Lawsuit Could Cripple the Freedom to Link

Community outlet says big papers siphon off page views with mere snippets of info

(Newser) - A local newspaper chain is suing the New York Times Company for pilfering its online content, and the case could dramatically change how news sites link, Danny Sanchez writes on Journalistopia. GateHouse Media says readers can glean enough information from the snippets linked by the Boston Globe and therefore don’... More »

Apple Numbers Lift Markets

Earnings punch through the crunch

(Newser) - Stocks closed up today, thanks partially to good news from Apple, which reported a 67% increase in quarterly profit after yesterday's close. Tech in general continued to bolster the markets despite broader economic worries. The Dow rose 109.26 to 13,676.23, the Nasdaq was up 45.33 to... More »

Trib Deal Could Come Undone

Wall Street unsure of Zell takeover will go through

(Newser) - The Tribune Company’s shareholders are meeting tomorrow to approve Sam Zell’s $8.2 billion takeover, but whispers persist on Wall Street that the deal will crumble. A disappointing stock price, concerns about the fading newspaper business, and a sagging credit market have convinced some analysts that Zell’s... More »

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