by DB Ross
The New York Times Company founded in 1851, has approximately 12,150 employees and yields sales of over $3 billion per year. While starting out solely as a newspaper company, the organization has grown to become a diversified media company that owns newspapers, magazines, television and radio stations, electronic information services and electronic publishing. The company is made up of three major newspapers: The New York Times, The International Herald Tribune and The Boston Globe. The company also owns 16 smaller newspapers. The Times Syndicate sells media content such as articles, book excerpts and columns to over 2,000 newspapers and other media clients in more than 50 countries. It is the largest syndicate in the world in text, photos and graphics features.
The organization of the New York Times Company can be broken down into four primary media groups: The New York Times Media Group, The New England Media Group, Regional Media Group and About Group. The New York Times Company began diversifying its holdings in 1944 with the purchase of two New York City radio stations. Since then it has continued this trend. In addition to various media holdings, the New York Times Company also has ownership stakes in interests such as the Boston Red Sox, Monster.com, UCompareHealthCare.com and Baseline StudioSystems.
Though it is significantly diversified, the New York Times Company is essentially a horizontally integrated company. This is because the majority of its holdings are in media companies, not necessarily the distribution channels, the paper production mills etc.
The New York Times Company has a definite global reach. Its products are distributed in countries all over the world in more than 50 countries.
The chairman of the New York Times Company is Arthur O. Sulzberger. Sulzberger got his start as a reporter at the Raleigh Times and has worked his way up to the top of the corporate ladder since 1974.
Michael Golden is the Vice Chairman of the New York Times Company and President and Chief Operating Officer of the New York Times Company Regional Media Group. Golden has been in publishing since the late 70s and also serves on the board of the Associated Press.
According to its website, the top governing principles of the New York Times Company are creating quality content, fulfilling the public trust, treating employees fairly and creating good stockholder value.
In terms of advertising dollars The New York Times Company controls approximately 3 percent of the market share of the American news media. News Corps. And Google hold the top two spots, with 16 percent and 11 percent respectively. Clearly these are the top two competitors the New York Times Company is currently battling.
As any casual observer may already know the New York Times Company has seen profits decline in the past few years. In attempts to revers that trend, the company has capitalized on efforts to seize new opportunities in new technology. Namely: The Internet. It will be interesting to see how the future will play out for the New York Times Company. Will the reputable journalistic mainstay continue to be a strong presence in coming years, or will the company dwindle and die?
Time alone will tell.
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