new york times co-cl b conv (NYTAB) Key Developments
The New York Times Company Reports Earnings Results for the First Quarter Ended March 31, 2015
May 20 15
The New York Times Company reported earnings results for the first quarter ended March 31, 2015. Loss from continuing operations before income taxes for the first quarter ended March 31, 2015 was $23.83 million, compared to an income from continuing operations before income taxes of $6.61 million for the same quarter ended March 31, 2014.
The New York Times Company Names Dorothea Herrey as Senior Vice President for the Times’s Event Business, NYT Live
May 6 15
The New York Times Company announced that Dorothea Herrey has been named senior vice president for The Times’s event business, NYT Live. She will join The Times on June 1 from Dow Jones & Company and report to Chief Revenue Officer Meredith Kopit Levien. Ms. Herrey will assume responsibility for the commercial aspects of all Times conferences, TimesTalks and other live events, including production, marketing, digital representation and revenue generation from sponsorship sales and delegate participation. She will work closely on programming with Charles Duhigg, who last week was named senior editor and the newsroom leader for live events. Together, they will expand The Times’s existing global conferences and live programs and identify new ideas for Times journalists to engage with thought leaders on some of the key issues of the day in front of live audiences. Ms. Herrey spent the last eight years at Dow Jones & Company, where since 2008 she has been the head of The Wall Street Journal’s conference business. Responsible for the launch and oversight of the business, she leads the team that produces elite conferences for global leaders in business, politics, technology and other fields. Previously, she worked as a strategy consultant at PricewaterhouseCoopers and as a venture capitalist at Scripps Ventures.
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). Fox Business Network's Charles Gasparino stated on air that Michael Bloomberg had expressed renewed interest in buying the New York Times Company and was prepared to pay up to $5 billion to acquire it. However, 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.