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.jpg) The New York Times Building, headquarters of the company | |
| Company type | Public |
|---|---|
| Industry | Newspapers |
| Founded | September 18, 1851; 174 years ago (1851-09-18) |
| Founders | |
| Headquarters | The New York Times Building,, United States |
Area served | Worldwide |
Key people | |
| Products | |
| Revenue |  US$2.59 billion (2024) |
| US$351 million (2024) | |
| US$294 million (2024) | |
| Total assets | US$2.84 billion (2024) |
| Total equity | US$1.93 billion (2024) |
Number of employees | c. 5,900 (2024) |
| Website | nytco |
| Footnotes / references [1][2][3][4] | |
The New York Times Company is an American mass media corporation that publishesThe New York Times and its associated publications such asThe New York Times International Edition and other media properties. The New York Times Company's headquarters are inThe New York Times Building, a skyscraper inManhattan, New York City.[5]
The company was founded byHenry Jarvis Raymond andGeorge Jones in New York City. The first edition of the newspaperThe New York Times, published on September 18, 1851, stated: "We publish today the first issue of the New-York Daily Times, and we intend to issue it every morning (Sundays excepted) for an indefinite number of years to come."[6]
The company moved into the cable channel industry, purchasing a 40% interest in the Popcorn Channel, a theatrical movie preview and local movie times, in November 1994.[7] In 1996, it expanded upon its broadcasting by purchasing Palmer Communications, owners ofWHO-DT inDes Moines andKFOR inOklahoma City.[8]
In April 2002, The New York Times Company andDiscovery Communications announced a joint venture television network called Discovery Times, although this was just a rename of the Discovery Civilization Network. The company completed its purchase ofThe Washington Post's 50 percent interest in theInternational Herald Tribune (IHT) for US$65 million on January 1, 2003, becoming the sole owner.[9]
On March 18, 2005, the company acquiredAbout.com, an online provider of consumer information, for US$410 million.[10] In 2005, the company reported revenues of US$3.4 billion to itsinvestors.[11] The Times, on August 25, 2006, acquired Baseline StudioSystems, an online database and research service on the film and television industries for US$35 million.[12]
In 2006, The Times sold their stake in Discovery Times to Discovery. The channel was relaunched asInvestigation Discovery two years later. The company announced on September 12, 2006, its decision to sell its Broadcast Media Group, consisting of "nine network-affiliated television stations, their related Web sites and the digital operating center".[13]The New York Times reported on January 4, 2007, that the company had reached an agreement to sell all nine local television stations to the private equity firmOak Hill Capital Partners, which then created a holding company for the stations,Local TV LLC.[14][15] The company announced that it had finalized the sale of its Broadcast Media Group on May 7, 2007, for "approximately$575 million".[15]
On May 7, 2007, the company announced that its About.com web information service was acquiring Consumersearch.com, a Web site that compiles reviews of consumer products, for $33 million in cash.[16] In 2007, the company moved from 229 West 43rd Street tothe New York Times Building at 620 Eighth Avenue, on the west side ofTimes Square, between 40th and 41st streets across from thePort Authority of New York & New Jersey Bus Terminal.[17]
On July 14, 2009, the company announced thatWQXR was to be sold toWNYC, which moved the station to 105.9 FM and began to operate the station noncommercially on October 8, 2009. This US$45 million transaction, which involvedUnivision Radio'sWCAA moving to the 96.3 FM frequency from 105.9 FM, ended the Times' 65-year-long ownership of the station.[18]
In December 2011, the company sold its Regional Media Group toHalifax Media Group, owners ofThe Daytona Beach News-Journal, for $143 million.The Boston Globe andThe Telegram & Gazette ofWorcester were not part of the sale.[19] In 2011, the Times sold Baseline StudioSystems back to its original owners, Laurie S. Silvers and Mitchell Rubenstein, majority shareholders ofProject Hollywood LLC.[12]
Facing falling revenue from print advertising in its flagship publication in 2011,The New York Times, the company introduced apaywall to its website. As of 2012, it had been modestly successful, garnering several hundred thousand subscriptions and about $100 million in annual revenue.[20]
In 2013, the New York Times Company soldThe Boston Globe and other New England media properties toJohn W. Henry, the principal owner of theBoston Red Sox. According to the Times Company, the move was made in order to focus more on its core brands.[21][22]
After forming an editorial partnership with the New York Times in 2015,[23]The Wirecutter, a product review website, was acquired by the Times in October 2016 for a reported $30 million. In March 2020, the New York Times Company acquired subscription-based audio app, Audm.[24] In July 2020, the New York Times Company acquired podcast production companySerial Productions.[25] The same month, the company appointedchief operating officerMeredith Kopit Levien to the position of CEO.[26] In February 2022, the New York Times Company boughtThe Athletic, a subscription-based sports news website, for $550 million.[27] Its founders, Alex Mather and Adam Hansmann, stayed with the publication, which is run separately from theTimes.[28]
In January 2022, the Times acquiredWordle, an Internet word puzzle game that grew from 90 players in October 2021 to millions at the time of purchase. The Times paid a price "in the low seven figures," according to its creator, Josh Wardle.[29]ValueAct Capital took a stake in the company in August 2022.[30] ValueAct aims to encourage the company to more actively pursue the sale of "bundled" subscriptions to its various offerings.[30]
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The paper bought AM radio stationWQXR (1560 kHz) in 1944.[31] Its "sister" FM station, WQXQ, became WQXR-FM (96.3 MHz). Branded as "The Stereo Stations ofThe New York Times", itsclassical musicradio format was simulcast on both the AM & FM frequencies until December 1992, when the big-band and pop standards music format of station WNEW (1130 kHz – nowWBBR/"Bloomberg Radio") was transferred to and adopted by WQXR; in recognition of the format change, WQXR changed its call letters toWQEW (a "hybrid" combination of "WQXR" and "WNEW").[32] By 1999,The New York Times was leasing WQEW toABC Radio for its "Radio Disney" format.[33] In 2007, WQEW was finally purchased byDisney; in late 2014, it was sold to Family Radio (a religious radio network) and becameWFME.[34] In 2009, WQXR-FM was sold to theWNYC radio group and, on October 8, moved from 96.3 to 105.9 MHz (swapping frequencies with Spanish-language stationWXNY-FM, which wanted the more powerful transmitter to increase its coverage) and began operating it as a noncommercial, public radio station.[35]
Alongside its namesake newspaper, the company ownsThe New York Times International Edition and related digital properties including NYTimes.com, as well as various brand-related properties.[36]
The company experienced a sharp decline in sales at the beginning of the 21st century. From 2011 onwards, sales stabilized and even began to grow again after a few years.[37] In May 2025, the company had a market capitalization of US$8.9 billion.[38]
| Year | Revenue in million USD | Net income in million USD | Employees | Subscribers (millions) [note 1] | Subscriptions (millions) |
|---|---|---|---|---|---|
| 2000 | 3,489 | 398 | 14,000 | ||
| 2005 | 3,231 | 253 | 11,965 | ||
| 2006 | 3,290 | -543 | 11,585 | ||
| 2007 | 3,185 | 209 | 10,231 | ||
| 2008 | 2,940 | -58 | 9,346 | ||
| 2009 | 2,440 | 20 | 7,665 | ||
| 2010 | 1,981 | 108 | 7,414 | ||
| 2011 | 1,555 | -38 | 7,273 | ||
| 2012 | 1,595 | 136 | 5,363 | ||
| 2013 | 1,577 | 65 | 3,529 | ||
| 2014 | 1,589 | 33 | 3,588 | ||
| 2015 | 1,579 | 63 | 3,560 | 2 | |
| 2016 | 1,555 | 29 | 3,710 | 2.9 | |
| 2017 | 1,676 | 4 | 3,790 | 3.6 | |
| 2018 | 1,749 | 126 | 4,320 | 4.3 | |
| 2019 | 1,812 | 140 | 4,500 | 5.3 | |
| 2020 | 1,784 | 100 | 4,700 | 7.5 | |
| 2021 | 2,074 | 220 | 5,000 | 7.6 | 8.8 |
| 2022 | 2,308 | 174 | 5,800 | 9.6 | 11 |
| 2023 | 2,426 | 232 | 5,900 | 10.4 | |
| 2024 | 2,586 | 294 | 5,900 | 11.4 |
Since September 25, 1997, the company has been listed on theNew York Stock Exchange under the symbol NYT. From April 27, 1967, until January 13, 1969, the company's Class A common stock traded over the counter. From January 14, 1969, until September 24, 1997, the shares were traded on theAmerican Stock Exchange.[39] Of the two categories of stock,Class A and Class B, the former is publicly traded and the latter is held privately—largely (over 90% through The 1997 Trust) by the descendants ofAdolph Ochs, who purchasedThe New York Times newspaper in 1896.[40]
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 Mexican billionaireCarlos Slim, "to help the newspaper company finance its businesses".[41] The New York Times Company later repaid that loan ahead of schedule.[42] Slim subsequently 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.[42] 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,[43] and again in 2015, when he exercised stock options—acquired as part of a repayment plan on the 2009 loan—to purchase 15.9 million Class A shares, making him the largest shareholder.[42][44]
As of March 7, 2016, Slim owned 17.4% of the company's Class A shares, according to annual filings submitted by the company.[45][46] While Slim became the largest shareholder in the company, his investment only allowed him to vote for Class A directors, a third of the company's board.[42] In December 2017, Slim reportedly cut his stake in The New York Times by half, reducing his ownership to approximately 8%.[47] By 2021, Slim was no longer listed among "principal holders of common stock" (i.e. greater than 5% ownership) in the company's annual proxy statement.[48]
As of November 2025:[update][49]
The company sponsors a series of national and local awards designed to highlight the achievements of individuals and organizations in different realms.
In 2007, it inaugurated its first Nonprofit Excellence Award, awarded to four organizations "for the excellence of their management practices". Onlynonprofits in New York City,Long Island, orWestchester were eligible.[50]
Jointly with theCarnegie Corporation of New York and theAmerican Library Association, the New York Times Company sponsors an award to honor librarians "for service to their communities". TheI Love My Librarian! award was given to ten recipients in December 2008, and presented by the New York Times Company president and CEOJanet L. Robinson, Carnegie Corporation presidentVartan Gregorian, and Jim Rettig, president of theAmerican Library Association. The award has been given to ten exceptional librarians annually since that date.[51]
In May 2009, the company launched The New York Times Outstanding Playwright Award to honor an American playwright who had recently had his or her professional debut in New York.[52] The first winner wasTarell Alvin McCraney for his play "The Brothers Size".[53] In 2010, Dan LeFranc won for his play "Sixty Miles to Silver Lake".[54]
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