The New York Times Company

The New York Times Company is an American media company which publishes its namesake, The New York Times. Arthur Ochs Sulzberger, Jr. has served as Chairman of the Board since 1997. It is headquartered in Midtown Manhattan, New York, New York.

History
The company was founded by Henry Jarvis Raymond and George Jones in New York City. The first edition of the newspaper The 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."

Company holdings
Alongside its namesake newspaper, the company also owns the International Herald Tribune, The Boston Globe, and their related digital properties including NYTimes.com and Boston.com.

Company stock profile
Since 1967, the company has been listed on the New York Stock Exchange under the symbol NYT. Of the two categories of stock, Class A and Class B, the former is publicly traded and the latter is held privately --- largely (nearly 90%) by the descendants of Adolph Ochs, who purchased The New York Times newspaper in 1896.

Board of Directors
At the April 2005 board meeting, Class B shareholders elected nine of the fourteen directors of the company.

Chronology
January 1, 2003 – The company completed its purchase of The Washington Post 50 percent interest in the International Herald Tribune (IHT) for US$65 million. The New York Times Company, which had owned 50% of the IHT, became the sole owner.

March 18, 2005 – The company acquired About.com, an online provider of consumer information for US$410 million. In 2005, the company reported revenues of US$3.4 billion to its investors.

August 25, 2006 – The company acquired Baseline StudioSystems, an online database and research service on the film and television industries for US$35 million. In 2011, the Times sold the service back to its original owners.

September 12, 2006 – The company announced its decision to sell its Broadcast Media Group, consisting of "nine network-affiliated television stations, their related Web sites and the digital operating center"

January 4, 2007 – The New York Times reported that the company had reached an agreement to sell all nine local television stations to the private equity firm Oak Hill Capital Partners.

May 17, 2007 – The company announced that it had finalized the sale of its Broadcast Media Group on May 7, 2007, for "approximately $575 million."

November 19, 2007 – The company staged a gala opening after relocating its headquarters from the previous location at 229 West 43rd Street to The New York Times Building at 620 Eighth Avenue, on the west side of Times Square, between 40th and 41st streets across from the Port Authority of New York & New Jersey Bus Terminal.

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. This US$45 million transaction, which involved Univision Radio's WCAA moving to the 96.3 FM frequency from 105.9 FM, ended the Times' 65-year-long ownership of the station.

December 27, 2011 – The Boston Globe reported that the company would sell its Regional Media Group to Halifax Media Holdings LLC, owners of The Daytona Beach News-Journal, for $143 million. The Boston Globe and The Telegram & Gazette of Worcester were not part of the sale.

2011 – Facing falling revenue from print advertising in its flagship publication, The New York Times, the company has introduces a paywall to its website. As of 2012, it has been modestly successful, garnering several hundred thousand subscriptions and about $100 million in annual revenue.

Community awards
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". Only nonprofits in New York City, Long Island, or Westchester were eligible.

Jointly with the Carnegie Corporation of New York and the American Library Association, The New York Times Company sponsors an award to honor librarians "for service to their communities." The I Love My Librarian! award was given to ten recipients in December 2008, and presented by The New York Times Company president and CEO Janet L. Robinson, Carnegie Corporation president Vartan Gregorian, and Jim Rettig, president of the American Library Association.

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. The first winner was Tarell Alvin McCraney for his play "The Brothers Size". In 2010, Dan LeFranc won for his play "Sixty Miles to Silver Lake".