Thursday, July 11, 2024

Who Owns The New York Times Company

Accusations Of Liberal Bias

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In mid-2004, the newspaper’s then-public editor Daniel Okrent, wrote an opinion piece in which he said that The New York Times did have a liberal bias in news coverage of certain social issues such as abortion and same-sex marriage. He stated that this bias reflected the paper’s cosmopolitanism, which arose naturally from its roots as a hometown paper of New York City, writing that the coverage of the Times‘s Arts & Leisure Culture and the Sunday Times Magazine trend to the left.

If you’re examining the paper’s coverage of these subjects from a perspective that is neither urban nor Northeastern nor culturally seen-it-all if you are among the groups The Times treats as strange objects to be examined on a laboratory slide if your value system wouldn’t wear well on a composite New York Times journalist, then a walk through this paper can make you feel you’re traveling in a strange and forbidding world.

Times public editor Arthur Brisbane wrote in 2012:

When The Times covers a national presidential campaign, I have found that the lead editors and reporters are disciplined about enforcing fairness and balance, and usually succeed in doing so. Across the paper’s many departments, though, so many share a kind of political and cultural progressivism for lack of a better term that this worldview virtually bleeds through the fabric of The Times.

The New York Times Company’s Largest Institutional Shareholders

1. Vanguard Group Inc

Vanguard is one of the world’s largest investment companies, offering a large selection of low-cost mutual funds, ETFs, advice, and related services. As of January 31, 2021, Vanguard’s asset under management totaled US$7.2 trillion. The company manages 209 U.S. funds and about 232 additional funds in markets outside the United States. Vanguard has more than 30 million investors, in about 170 countries.

The company owns 15.88M shares of The New York Times Company, representing 9.48% of NYT’s total share outstanding. Using the last stock closing price of $41.44, Vanguard Group Inc’s current total stake in The New York Times Company is worth $658.07M.

2. BlackRock Inc

BlackRock is one of the worlds leading asset management firms and a premier provider of investment management, risk management and advisory services to institutional, intermediary and retail clients worldwide. The company offers a range of solutions from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. As of 31 December 2020, BlackRocks assets under management totaled US$8.68 trillion.

The company owns 13.90M shares of The New York Times Company, representing 8.29% of NYT’s total share outstanding. Using the last stock closing price of $41.44, BlackRock Inc’s current total stake in The New York Times Company is worth $575.88M.

New Leadership In The Postwar Period

Under Sulzberger the Times improved steadily in news coverage, financial strength, and technical progress. In a diversification move in 1944 the NYTC purchased New York City radio stations WQXR and WQXR-FM. Sulzberger opposed without success the unionization of Times employees. The companys first published financial statement in 1958 showed 60 consecutive years of increasing profits. In 1957 a recapitalization split the common stock into A and B common stock, with the B shares, mostly held by the Ochs trust, having voting control over the company. Sulzbergers health began to fail in the late 1950s. He retired in 1961. His successor as president and publisher was his son-in-law, Orvil E. Dryfoos. Dryfoos died in 1963. On June 20, 1963, he was succeeded in turn as president and publisher by Arthur HaysSulzbergers son, Arthur Ochs Sulzberger, who continued in 1991 to lead the NYTC as chairman and chief executive officer.

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New York Times V Sullivan

The paper’s involvement in a 1964 libel case helped bring one of the key United States Supreme Court decisions supporting freedom of the press, New York Times Co. v. Sullivan. In it, the United States Supreme Court established the “actual malice” standard for press reports about public officials or public figures to be considered defamatory or libelous. The malice standard requires the plaintiff in a defamation or libel case to prove the publisher of the statement knew the statement was false or acted in reckless disregard of its truth or falsity. Because of the high burden of proof on the plaintiff, and difficulty proving malicious intent, such cases by public figures rarely succeed.

The New York Times Company

The History of and Story Behind the New York Times Logo

229 West 43rd Street

Incorporated: 1851 as Raymond, Jones & CompanyEmployees: 10,400Stock Exchange: American

The New York Times Company is a large diversified media and communications business engaged in newspaper and magazine publishing, broadcasting and information services, and, to a lesser extent, forest products. Its principal property is one of the worlds great newspapers, The New York Times, founded in 1851. During its history of nearly 140 years, the company has grown to include along with The New York Times, 32 regional newspapers and 17 magazines, including such popular journals as Family Circle, McCalls, Golf Digest, and Tennis. The company also operates five television stations, two radio stations, a news service, and a features syndicate, and licenses databases and copyrights. In addition it has equity interests in three Canadian newsprint mills and a partnership interest in a Maine paper mill.

Raymond was active in Republican politics throughout the war. He was present at the creation of the party in Pittsburgh in 1856 and wrote its first statement of principles. He wrote most of the party platform in 1864. Between political activity and journalism, Raymond was chronically overworked for years, and his health suffered. On June 19, 1869, at the age of 49, he died. George Jones assumed the editorial leadership of the Times.

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The New York Times Subscription Stats

4. The number of New York Timesdigital subscribers has been growing steadily since 2014.

Unlike many competitors, The Times has managed to grow its digital subscriber base each quarter for the past seven years. From 799,000 digital subscribers in Q1 2014, the number has gone up to an all-time high of 5.09 million in Q4 2020 an impressive 537% increase.

5. In 2020 alone, the paper added 1.66 million digital subscribers.

Although 2020 was financially rough for all media outlets, The Times managed to significantly increase its digital subscriber base. The New York Times subscriber numbers went up from 3.43 million in 2019 to 5.09 million at the end of 2020, marking a 49.4% increase year-over-year.

6.The New York Times is the most popular newspaper among US digital news consumers.

Almost two-fifths of Americans who subscribed to digital editions of print newspapers in 2020 chose to support The New York Times, readership statistics reveal. The Washington Post, another paper widely perceived as left-leaning, ranked second with 31%. Finally, 30% of US digital subscribers opted for internet editions of their local newspapers.

7. 16% of the papers subscribers live outside of the United States.

The New York Times isnt only popular in the US it also has many subscribers abroad. Looking at The New York Times readership demographics by country, most of the papers international readers come from other English-speaking countries like Canada and Australia.

Who Owns The New York Times

The New York Times major individual shareholder is the Sulzberger family, owning it for several generations. Indeed, A. G. Sulzberger owns a 1.3% of Class A stocks and 92% of Class B stocks. And Arthur Sulzberger Jr. owns 1.8% of Class A stocks and 92.2% of Class B stocks. The New York Times now runs primarily via a subscription-based model, where digital subscriptions contributed over $426 million in revenues in 2019, which made up over 23% of its total revenues.

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Nhl Owners: Who Are They

NHL players are extremely well known to fans. Even many coaches and general managers are recognized by those who watch the game. But what about the owners? The people who finance your favourite team arent as easily recognizable despite having huge impacts on the team and the league as a whole.

To better understand the owners of the 32 NHL organizations, this piece will look at their business ventures outside of the hockey clubs, how they came to acquire the teams and how the teams have performed under their leadership.

Maple Leafs Under Ownership

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The Toronto Maple Leafs have a large ownership group, with BCE Inc. and Rogers Communications owning the majority. Tanenbaum actually only owns 25 percent of the team, but since hes the chairman of MLSE, hes the face of the ownership.

Tanenbaum purchased his first portion of shares in 1996 for $21 million, buying more in 2008 for $100 million and when BCE and Rogers purchased the majority shares in 2011 for $1.32 billion, his share was bumped up to 25 percent to secure his approval of the sale. The Maple Leafs are the second-most valuable team in the league at $1.5 billion .

Since Tanenbaum came into the fold in 1996, the Maple Leafs have just one division title. They have yet to win a Conference title or make the Stanley Cup Final. They even had a stretch of 11 seasons where they missed the playoffs 10 times. With superstar Auston Matthews leading the team now, they hope times will be changing soon.

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Walter Duranty’s Holodomor Coverage And Pulitzer

Walter Duranty, who served as its Moscow bureau chief from 1922 through 1936, has been criticized for a series of stories in 1931 on the Soviet Union and won a Pulitzer Prize for his work at that time however, he has been criticized for his denial of widespread famine, most particularly Holodomor, a famine in Soviet Ukraine in the 1930s in which he summarized Russian propaganda, and the Times published, as fact: “Conditions are bad, but there is no famine”.

In 2003, after the Pulitzer Board began a renewed inquiry, the Times hired , professor of Russian history at Columbia University, to review Duranty’s work. Von Hagen found Duranty’s reports to be unbalanced and uncritical, and that they far too often gave voice to Stalinistpropaganda. In comments to the press he stated, “For the sake of The New York Times’ honor, they should take the prize away.”The Ukrainian Weekly covered the efforts to rescind Duranty’s prize. The Times has since made a public statement and the Pulitzer committee has declined to rescind the award twice stating, “…Mr. Duranty’s 1931 work, measured by today’s standards for foreign reporting, falls seriously short. In that regard, the Board’s view is similar to that of The New York Times itself…”.

Gender Discrimination In Employment

Discriminatory practices used by the paper long restricted women in appointments to editorial positions. The newspaper’s first general female reporter was , who described her experience afterward: “In the beginning I was charged not to reveal the fact that a female had been hired”. Other reporters nicknamed her Fluff and she was subjected to considerable hazing. Because of her gender, any promotion was out of the question, according to the then-managing editor. She remained on the staff for fifteen years, interrupted by World War I.

In 1935, Anne McCormick wrote to Arthur Hays Sulzberger: “I hope you won’t expect me to revert to ‘woman’s-point-of-view’ stuff.” Later, she interviewed major political leaders and appears to have had easier access than her colleagues. Even witnesses of her actions were unable to explain how she gained the interviews she did.Clifton Daniel said, ” I’m sure Adenauer called her up and invited her to lunch. She never had to grovel for an appointment.”

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Golden Knights Under Ownership

In 2016, the NHL approved a bid from Foley to become the first expansion team since 2000 and the first NHL team ever in Las Vegas. The team started playing in 2017-18. In Foleys campaign to bring the league to Vegas, he secured more than 13,200 season ticket holders. As an expansion team, he was required to pay a $500 million expansion feethe team is already worth $570 million .

The Vegas Golden Knights broke into the NHL and took the league by storm, winning their division and reaching the Stanley Cup Final in their first season. They reached the playoffs again in their second season in an unprecedented start for the expansion franchise.

Arrival Of Adolph Ochs At The End Of The 19th Century

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Ochs’s first two years with the Times were a continual struggle to carry on operations and improve the paper with inadequate capital. The expenses of covering the Spanish-American War in 1898 came close to ruining the paper, which sold then for three cents a copy. Some Times executives advised raising the price, but Ochs made the brilliant and daring decision to reduce the price to one cent. Within a year paid circulation trebled from 26,000 to 76,000. Advertising linage increased by nearly 40 percent, and the paper was profitable. Despite subsequent price increases, this was the beginning of a long upward trend in circulation and profitability. On August 14, 1900, Ochs received the NYTC stock certificates that established his control over the paper and the company, a controlling interest that was still held by his descendants in 1991.

Under Ochs, the NYTC followed a general policy of avoiding diversification, although Ochs himself continued as the personal owner and publisher of the Chattanooga Times and had a private investment in a Philadelphia paper between 1901 and 1913. In 1926, however, the NYTC did take part ownership, along with Kimberly & Clark Company, in a Canadian paper mill, the Spruce Falls Power and Paper Company, to assure its supplies of newsprint.

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Carlos Slim Loan And Investment

On January 20, 2009, The New York Times reported that its parent company, The New York Times Company, had reached an agreement to borrow $250 million from Carlos Slim, a Mexican billionaire “to help the newspaper company finance its businesses”. The New York Times Company later repaid that loan ahead of schedule. Since then, Slim has bought large quantities of the company’s Class A shares, which are available for purchase by the public and offer less control over the company than Class B shares, which are privately held. Slim’s investments in the company included large purchases of Class A shares in 2011, when he increased his stake in the company to 8.1% of Class A shares, and again in 2015, when he exercised stock optionsacquired as part of a repayment plan on the 2009 loanto purchase 15.9 million Class A shares, making him the largest shareholder. As of March 7, 2016, Slim owned 17.4% of the company’s Class A shares, according to annual filings submitted by the company. While Slim is the largest shareholder in the company, his investment only allows him to vote for Class A directors, a third of the company’s board. Slim continues to influence the paper’s direction.

The New York Times Company Declares Regular Quarterly Dividend

NEW YORK, September 30, 2021âThe New York Times Companys Board of Directors today declared a regular quarterly dividend of $.07 per share on the Companys Class A and Class B common stock. The dividend is payable on October 22, 2021, to shareholders of record as of the close of business on October 11, 2021.

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    Justices Differed On Reasoning Behind Opinion

    When addressing the question of why the government had failed to carry its burden, however, the Courts majority splintered into six concurring opinions:

    • On one extreme, Justice Hugo L. Black argued that only a free and unrestrained press can effectively expose deception in government and rejected any prior restraints on the press.
    • Justice Byron R. White, although specifically rejecting the idea that in no circumstances would the First Amendment permit an injunction against publishing information about government plans or operations, refused to grant censorship authority to the executive branch without the authorization of Congress.
    • Justice William J. Brennan Jr., referring to Justice Oliver Wendell Holmessclear and present danger test, concluded that prior censorship would be permissible in certain circumstances, but the vague, nonspecific claims of harm to national security made in this case were insufficient to justify prior restraint.
    • Justice William O. Douglas generally agreed with Justice Black and also argued that the legislation the government used to support its case, the Espionage Act of 1917, did not support the governments case.
    • Justices Potter Stewart and Thurgood Marshall argued separately that in the absence of specific guidance by Congress, the Court should not grant the executive broad censorship power.

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