new york times co-a (NYT) Key Developments
Bloomberg Denies Interest In Buying New York Times
May 1 15
Bloomberg Inc. denies the reports about talks to acquire The New York Times Company (NYSE:NYT). Ty Trippet, a spokesman for Bloomberg states, "There is no truth to this rumor."
The New York Times Company Reports Earnings Results for the First Quarter of 2015; Provides Financial Guidance for the 2015
Apr 30 15
The New York Times Company reported earnings results for the first quarter of 2015. For the quarter, the company reported adjusted diluted earnings per share from continuing operations of $0.11 compared with $0.07 in the first quarter of 2014. Diluted loss per share from continuing operations was $0.09 compared with diluted earnings per share of $0.02 in the same period of 2014. Adjusted operating profit grew to $59.2 million from $56.6 million in the first quarter of 2014, as broad cost reductions more than offset a decline in revenues. Operating loss was $11.1 million compared with an operating profit of $22.1 million in the same period of 2014, driven by special pension charges in first quarter of 2015. Capital expenditures totaled approximately $5 million in the first quarter of 2015. Revenue was $384.2 million, down from $390.4 million in the same quarter last year. Net loss for the quarter came in at $14.3 million, compared to a gain of $1.7 million in the year-ago quarter.
For the year 2015, the company expects depreciation and amortization of $60 million to $65 million, interest expense, net of $40 million to $45 million, and capital expenditures of $35 million to $45 million.
The New York Times Company Promotes Meredith Kopit Levien to the Position of Chief Revenue Officer
Apr 17 15
The New York Times Company announced that Meredith Kopit Levien has been promoted to the position of chief revenue officer, effective immediately. Ms. Kopit Levien will add oversight of the company's consumer business to her existing responsibilities as executive vice president and head of advertising. She will lead the groups charged with the generation of all advertising and subscription revenue from The Times's multiplatform products and services. She will continue to report to President and CEO, Mark Thompson. Ms. Kopit Levien, 44, joined The New York Times Company in August 2013 as executive vice president of advertising.
The New York Times and Women in the World Announce Launch of New Digital Platform on NYTimes.com
Apr 8 15
The New York Times and Women in the World announced the launch of a new digital platform on NYTimes.com for Women in the World. The mobile-optimized, responsive site was built and designed by The New York Times as part of a multiyear agreement between the two companies to collaborate on the Women in the World summit series.
The New York Times Company Announces Executive Changes
Mar 30 15
The New York Times Company announced that Kinsey Wilson, currently company's editor for strategy and innovation, has also been named executive vice president, product and technology. Mr. Wilson will join the company's executive committee and expand his present role to assume leadership of all company-wide digital product and technology operations. He will report jointly to President and CEO Mark Thompson and Executive Editor Dean Baquet. Mr. Wilson joined company in February 2015. Previously, he oversaw NPR's global news-gathering, programming and digital operations as executive vice president and chief content officer. He drove the development of the NPR One mobile app, which pioneered a new digital listening experience, championed initiatives such as Planet Money, NPR Music, and the Race Card Project and is widely credited with positioning NPR as a digital leader. David Perpich has been named senior vice president, product, reporting to Mr. Wilson. Since 2013, Mr. Perpich has been general manager of new digital products, leading the business side team charged with the creation of new digital products. He joined the company in 2010 as executive director of paid products and played a key part in the rollout of company's digital subscription plan in 2011. Mr. Perpich came to The Times from the management consulting firm Booz & Company, where he was a member of their consumer, media and digital industries practice, focusing on growth strategy. The company also announced that Paul Smurl, who has been a central player in the growth of The Times's digital business, is leaving to become COO and President of Some Spider LLC.