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New York Times Co (NYT.N)

NYT.N on New York Stock Exchange

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23 May 2018
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Latest Key Developments (Source: Significant Developments)

The New York Times Company Appoints Roland Caputo As New CFO
Thursday, 26 Apr 2018 

April 26 (Reuters) - New York Times Co ::THE NEW YORK TIMES COMPANY APPOINTS ROLAND A. CAPUTO AS NEW CHIEF FINANCIAL OFFICER.NEW YORK TIMES CO - CAPUTO'S APPOINTMENT IS EFFECTIVE ON APRIL 30, 2018.NEW YORK TIMES CO - CAPUTO WILL CONTINUE TO OVERSEE PRINT PRODUCTS AND SERVICES GROUP AS CFO.NEW YORK TIMES CO - CAPUTO REPLACES JIM FOLLO, WHO RETIRED FROM TIMES COMPANY IN FEBRUARY 2018.  Full Article

New York Times Co Says Inversora Carso Reports Open Market Sale Of 360,000 Shares
Wednesday, 18 Apr 2018 

April 18 (Reuters) - New York Times Co ::NEW YORK TIMES CO SAYS INVERSORA CARSO REPORTS OPEN MARKET SALE OF 360,000 SHARES AT $22.90/SHARE ON APRIL 16 - SEC FILING.  Full Article

New York Times Sets Regular Quarterly Dividend Of $0.04 Per Share
Friday, 15 Dec 2017 

Dec 14 (Reuters) - New York Times Co ::SETS REGULAR QUARTERLY DIVIDEND OF $0.04 PER SHARE ON CO'S CLASS A AND CLASS B COMMON STOCK.  Full Article

New York Times says Publisher Arthur Sulzberger Jr. Will Retire On Dec 31
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - New York Times Co ::NEW YORK TIMES CO - ARTHUR O. SULZBERGER, JR. WILL RETIRE AS PUBLISHER ON DECEMBER 31, 2017​.NEW YORK TIMES CO - DEPUTY PUBLISHER A.G. SULZBERGER WILL BECOME PUBLISHER OF NEW YORK TIMES ON JANUARY 1, 2018.NEW YORK TIMES CO - ARTHUR O. SULZBERGER, JR. WILL CONTINUE TO SERVE AS CHAIRMAN OF COMPANY'S BOARD OF DIRECTORS.  Full Article

New York Times Co reports Q3 earnings per share of $0.20 from continuing operations
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - New York Times Co :The New York Times Company reports 2017 third-quarter results.Q3 earnings per share $0.20 from continuing operations.Q3 earnings per share view $0.08 -- Thomson Reuters I/B/E/S.Q3 adjusted earnings per share $0.13 from continuing operations.Q3 adjusted earnings per share $0.13.New York Times co qtrly total revenue $‍385.6 million, up 6.1 percent.New York Times - Q3 results included $30.1 million gain from joint ventures related to sale of remaining assets of Madison Paper Industries.New York Times Co- total subscription revenues in Q4 of 2017 are expected to increase in high-teens compared to Q4 of 2016​.New York Times Co- ‍total advertising revenues in Q4 of 2017 are expected to decrease in high single-digits compared with Q4 of 2016​.New York Times - ‍paid digital-only subscriptions totaled about 2.49 million at Q3-end, net increase of 154,000 subscriptions versus Q2​-end.New York Times Co - qtrly subscription revenue $246.6 million versus $217.1 million ‍​.New York Times Co - qtrly advertising revenue $113.6 million versus $124.9 mln‍​.New York Times Co - sees ‍2017 capital expenditures on a pre-tax basis $90 million to $95 million​.New York Times - ‍excluding impact of additional week, total subscription revenue in Q4 expected to increase about 10 percent compared to Q4 of 2016​.New York Times - ‍excluding impact of additional week, total advertising revenue in Q4 expected to decrease in low double-digits compared with Q4 of 2016​.  Full Article

New York Times CEO James Follo to retire in early 2018
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - New York Times Co :New York Times Chief Financial Officer James Follo to retire in early 2018.New York Times Co - ‍Will retain a leading executive search firm to help identify follo's successor​.‍Company will retain a executive search firm to help identify follo's successor​.  Full Article

New York Times enters agreements with Massachusetts Mutual Life Insurance
Wednesday, 25 Oct 2017 

Oct 24 (Reuters) - New York Times Co :New York Times - ‍on Oct 18, entered agreements with Massachusetts Mutual Life Insurance Co relating to two of cos pension plans - SEC filing​.New York Times Co - ‍under agreements, company will purchase from MassMutual group annuity contracts with respect to pension plans​.New York Times- ‍under deals, co to also transfer to MassMutual future benefit obligations, annuity administration for some retirees under pension plans​.New York Times - ‍by transferring obligations to MassMutual, co expects to reduce its qualified pension plan obligations by about $225 million​.New York Times Co - ‍purchase of group annuity contracts is being funded through existing assets of pension plans​.New York Times - ‍as result of agreements, co expects to recognize a pension settlement charge of about $95 million before tax in Q4 of 2017​.New York Times Co - ‍on oct 20, made a $100 million discretionary contribution to pension plans, funded by cash on hand​.  Full Article

Darsana Capital reports 5.8 pct passive stake in New York Times - SEC filing‍​‍​
Tuesday, 24 Oct 2017 

Oct 23 (Reuters) - New York Times Co : :Darsana Capital Partners LP reports 5.8 percent passive stake in New York Times co as of Oct 12 - SEC filing‍​‍​.  Full Article

The New York Times to eliminate Public Editor role - NYT, citing internal memo‍​
Wednesday, 31 May 2017 

May 31 (Reuters) - New York Times Co ::The New York Times to eliminate position of Public Editor; Liz Spayd, current Public Editor, will leave company on friday - NYT, citing an internal memo‍​.  Full Article

New York Times provides communication to newsroom employees with respect to planned workforce reduction
Wednesday, 31 May 2017 

May 31 (Reuters) - New York Times Co :On May 31, co provided a communication to newsroom employees with respect to a planned workforce reduction - SEC filing.‍Expects to incur approximately $17 to $23 million of total charges in connection with this workforce reduction - SEC filing​.Expects to incur about $17 to $23 million of total charges in connection with workforce reduction, with about $17 million to be recorded in Q2 2017​.Says announcing buyout primarily designed to streamline multi-layered editing, production system, reduce number of editors at Times.Says the buyout is primarily focused on reducing layers of editors.‍Recently set up a series of experiments on National and Metro to test different editing structures​."We will also accept buyout requests from reporters and others in the newsroom".‍Savings from buyout will enable us to accelerate hiring and bring in as many as 100 additional journalists​.‍Consensus favored new system called 'strong desk model,' where traditional distinction between backfielders, copy editors disappears​.Says ‍"What we now know as copy desk will no longer exist​".If co does not get enough takers to fund plans to reduce editing staff, hire more reporters, co will have to turn to layoffs.‍Under strong desk model, desk editors will handle all aspects of a story, through various drafts to a completely copy edited version.Under strong desk model, desk editors will also be involved in selection of photographs​ for a story.  Full Article

UPDATE 1-Goldman CEO Blankfein likely to step down by December - NYT

May 18 Goldman Sachs Group Inc Chief Executive Lloyd Blankfein is expected to step down by December, the New York Times reported on Friday, citing people familiar with the bank's plan.