The New York Times Company Company History Timeline

1851

The Times was established in 1851 as a penny paper that would avoid sensationalism and report the news in a restrained and objective fashion.

Public CompanyIncorporated: 1851 as Raymond, Jones & CompanyEmployees: 10,400Sales: $1.78 billionStock Exchange: American

1856

He was present at the creation of the party in Pittsburgh in 1856 and wrote its first statement of principles.

1857

1857: The newspaper changes its name to the New York Times.

1864

He wrote most of the party platform in 1864.

1869

1869: Upon Henry Jarvis Raymond's death, George Jones assumes control of the newspaper.

1871

In 1871 after a series of Times articles on the misdeeds of corrupt New York City politicians headed by William Marcy (Boss) Tweed, an attempt was made by Tweed interests to buy Raymond’s 34 shares from his widow.

1878

In 1878, at the age of 20, he borrowed $250 to buy the controlling interest in a failing Tennessee newspaper, the Chattanooga Times, thus beginning his career as a newspaper publisher before he was old enough to vote.

1891

The paper’s profits fell steadily until Jones’s death in 1891.

1893

His heirs had little aptitude for the newspaper business, and the panic and depression of 1893 brought the Times close to failure.

In 1893 the Times 's editor-in-chief, Charles Ransom Miller, bought control of the paper from Jones's heirs with $1 million raised from Wall Street interests.

1896

One of his early acts after becoming publisher of the Times on August 18, 1896, was to add the slogan “All the News That’s Fit to Print,” thus serving notice that the Times would continue to avoid sensationalism and follow high editorial standards.

Staff reductions and declining journalistic quality brought the Times to its historic low point, and by 1896 it was on the verge of bankruptcy and dissolution.

Despite price increases, the Times was losing $1,000 a week when Adolph Simon Ochs bought it in 1896.

1898

The expenses of covering the Spanish-American War in 1898 came close to ruining the paper, which sold then for 30 a copy.

1901

Within a year sales jumped to seventy-five thousand and by 1901 passed one hundred thousand.

1904

The Times's success under Ochs was due to much more than price-cutting. It scooped the world on the Japanese-Russian naval battle in 1904 by sending the first wireless dispatches from a war area.

1918

The Times won its first Pulitzer prize in 1918 for public service.

1926

In 1926, however the NYTC did take part ownership, along with the Kimberly & Clark Company in a Canadian paper mill, the Spruce Falls Power and Paper Company, in order to assure its supplies of newsprint.

1944

The paper bought AM radio station WQXR (1560 kHz) in 1944.

1957

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.

1958

The company’s first published financial statement in 1958 showed 60 consecutive years of increasing profits.

1971

In 1971 the Times became the centre of controversy when it published a series of reports based on the “Pentagon Papers,” a secret government study of United States involvement in the Vietnam War that had been covertly given to the Times by government officials.

In 1971 the NYTC paid Cowles Communications Company 2.6 million shares of class A stock to purchase substantial newspaper, magazine, television, and book properties including Family Circle and other magazines; a Florida newspaper chain; a Memphis, Tennessee, TV station; and a textbook publisher.

1972

The publication of the “Pentagon Papers” brought the Times a Pulitzer Prize in 1972, and by the early 21st century the paper had won more than 120 Pulitzers (including citations), considerably more than any other news organization.

1976

When in 1976 it adopted a six-column format, bringing it in line with the format of most newspapers, the Times ' story concluded with this paragraph: "The Times used a six-column format when the newspaper first appeared on Sept.

1980

In 1980 the NYTC paid about $100 million for a southern New Jersey cable television operation, its largest acquisition since the Cowles deal.

1989

In 1989 the NYTC, admitting it was not making progress with cable, sold all of its cable TV properties to a consortium of Pennsylvania cable companies for $420 million.

1995

1995: The company enters cyberspace by joining with eight other newspaper companies in an online news service, New Century Network, and by creating The New York Times Electronic Media Company as a wholly owned subsidiary to develop new electronic products and distribution channels for the Times.

In 1995, the purchase of a majority interest in Video News International, a video news-gathering company, was made.

1996

In 1996, it expanded upon its broadcasting by purchasing Palmer Communications, owners of WHO-DT in Des Moines and KFOR in Oklahoma City.

1997

The New York Times Syndicate launched a weekly column written by the Duchess of York in 1997.

In 1997, the New York Times Company embarked on an ambitious program of expansion focused on transforming its flagship product, the New York Times newspaper, from a regional to a national publication.

1997: The New York Times introduces color printing to its front page.

1998

Among other efforts to increase the appeal of its nationally distributed newspaper, the New York Times added new features such as Circuits, a weekly technology section introduced in 1998, which was soon generating about $1 million per month in advertising revenue.

1999

To this end, in 1999 the NYTC invested $15 million in TheStreet.com, one of the top Internet providers of financial information and investment news and commentary, a digital publication with whom the Times shared a key customer base.

2000

2000: The company sells its Magazine Group to Advance Publications, Inc.

2001

The year 2001 proved turbulent for the NYTC, as the dotcom bubble burst, the economic slowdown bloomed into a full recession, and as New York City weathered the terrorist attacks of September 11.

2002

"Keeping the Gray Lady Spry: CEO Russell Lewis Explains How Constant Investment, Even in Bad Times, Ensures New York Times Co.'s Long-Term Health," Business Week Online, November 8, 2002.

The New York Times Digital unit reached profitability in 2002.

2003

The company completed its purchase of The Washington Post's 50 percent interest in the International Herald Tribune (IHT) for US$65 million on January 1, 2003, becoming the sole owner.

The New York Times newspaper was beset by an internal crisis in the spring of 2003 when news emerged that one of its reporters had written numerous fraudulent and even plagiarized stories that had gone undetected by his supervisors.

2005

On March 18, 2005, the company acquired About.com, an online provider of consumer information, for US$410 million.

The publication introduced a subscription service called TimesSelect in 2005 and charged subscribers for access to portions of its online edition, but the program was discontinued two years later, and all news, editorial columns, and much of its archival content was opened to the public.

In 2005, the company reported revenues of US$3.4 billion to its investors.

2006

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.

In 2006 the Times launched an electronic version, the Times Reader, which allowed subscribers to download the current print edition.

2007

On May 7, 2007, the company announced that its About.com web information service was acquiring Consumersearch.com (formerly productreviewnet.com) a Web site that compiles reviews of consumer products, for $33 million in cash.

2009

On July 14, 2009, the company announced that WQXR was to be sold to WNYC, which moved the station to 105.9 FM and began to operate the station as non-commercial on October 8, 2009.

2011

In December 2011, the company sold its Regional Media Group to Halifax Media Group, owners of The Daytona Beach News-Journal, for $143 million.

Facing falling revenue from print advertising in its flagship publication in 2011, The New York Times, the company introduced a paywall to its website.

2012

As of 2012, it has been modestly successful, garnering several hundred thousand subscriptions and about $100 million in annual revenue.

2013

In 2013, the New York Times Company sold The Boston Globe and other New England media properties to John W. Henry, the principal owner of the Boston Red Sox.

2020

In March 2020, the New York Times Company acquired subscription-based audio app, Audm.

2021

Later that month, it acquired Wordle, an Internet word puzzle game that grew from 90 players in October 2021 to millions at the time of purchase.

2022

In January 2022, The New York Times Company announced that it would acquire The Athletic, a subscription-based sports news website.

Block, Bernard A.; Kroll, Dorothy; Brown, Erin "The New York Times Company ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/new-york-times-company

The $550 million deal is expected to close in the first quarter of 2022, and The Athletic's co-founders, Alex Mather and Adam Hansmann, will stay with the publication, which would continue to be run separately from the Times.

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