The New York Times company

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THE NEW YORK TIMES COMPANY A Case Study Analysis John J. Head WestCom Group Consulting Inc. School of Communication Telecommunications Management 4480 Western Michigan University 1903 West Michigan Avenue Kalamazoo, Michigan 49008 November 8, 2012 2012 John J Head Table of Contents I. Historical Overview 1 Early steps2 Diversification3 Challenges, changes 4 II. Organizational structure 5 Table 15 III. Business Operations6 Table 27 The flagship8 IV. Financial performance9 Table 39 V. Future outlook11 Branding 11 SWOT analysis and other risks12 Table 413 Demographics15 Philosophy 16 Endnotes 18 I. HISTORICAL OVERVIEW All the News Thats Fit to Print. Special are those instances in business when a slogan becomes so synonymous with a company. Those words, found on the front page of every copy of every edition of The New York Times since 1896, began as a way to define the publication to its readership. That slogan stands to this day, but the newspaper and its parent, The New York Times Company, have grown far beyond the reaches of New York City and its surrounding boroughs. The New York Times Company is a diversified media company whose core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.1 It is a publicly traded company (NYTC on the New York Stock Exchange) and publishes three major daily newspapers. It also operates eight network-affiliated television stations and two New York City radio stations. The company has become more global in nature through The Times Syndicate Among the largest syndicates in the world, it specializes in text, photos, graphics in a variety of customized packages to more than 2,000 newspapers and other media to clients in more than 50 countries.2 While its footprint today is global, The New York Daily Times (the word Daily would be dropped in 1857) had a simple, straightforward and at least, structurally humble beginning in 1851, in a rundown six-story brownstone building on Nassau Street in New York City.3 Move forward to August 19, 1896, a Wednesday morning, and The New York Times readers were greeted on page one with the following salutation To undertake the management of The New York Times, with its great history of right doing, and to attempt to keep bright the luster which Henry J. Raymond and George Jones have given it, is an extraordinary task. But if a sincere desire to conduct a high-standard newspaper, clean, dignified and trustworthy, requires for success honesty, watchfulness, earnestness, industry, and practical knowledge applied with common sense, I entertain the hope that I can succeed and maintain the high estimate that thoughtful, pure-minded people have ever had of The New York Times. It will be my earnest aim that The New York Times give the news, all the news, in concise and attractive form, in language that is permissible in good society, to give the news impartially, without fear or favor to make (it) a forum for the consideration of all questions of public importance, and to that end to invite intelligent discussion from all shades of opinion.4 Adolph S. Ochs, who assumed management of the newspaper in 1896 from the newspapers founders, the aforementioned Raymond and Jones, penned that announcement. Ochs intent was to continue the course set by his predecessors in producing a newspaper consistent in its delivery of news unfettered by bias and scandal. Early steps The companys origins date back to September 1851, when the first issue of The New York Daily Times was published. Messrs. Raymond and Jones founded the publication on the premise of offering the news in a conservative and objective fashion, in contrast to the yellow journalism of the day .5 The papers coverage of key events President Lincolns Gettysburg Address and the Battle of Bull Run among them made the Times the newspaper of record. Under Raymond and Joness guidance the publication grew. Their subsequent...