Key Developments: New York Times Co (NYT.N)
11.77USD
1 Aug 2013
$-0.41 (-3.37%)
$12.18
$12.36
$12.54
$11.58
886,375
424,750
$12.83
$7.54
Latest Key Developments (Source: Significant Developments)
New York Times Co Puts Boston Globe Up For Sale-Reuters
Reuters reported that New York Times Co is putting The Boston Globe on the auction block for a second time as it seeks to focuses solely on growing its flagship newspaper, the Company said. The sale, which will also include the Worcester Telegram & Gazette, is expected to come at a big loss as newspapers struggle for subscribers and advertisers in the digital age. The Company said in a statement that it had hired Evercore Partners to advise on the sale. Full Article
New York Times Co Completes Sale Of About Group To IAC
New York Times Co announced the closing of the sale of its About Group, which includes the Web sites of About.com, ConsumerSearch.com and CalorieCount.com, to IAC for $300 million in cash, plus adjustments for working capital. The Company estimates the net after-tax proceeds from the sale will be approximately $290 million and plans to use the sale proceeds for general corporate purposes. Full Article
New York Times Co Agrees To Sell About Group To IAC
New York Times Co announced that it has entered into an agreement to sell About Group, which includes the Web sites of About.com, ConsumerSearch.com and CalorieCount.com, to IAC for $300 million in cash. The all cash transaction is expected to close in the next several weeks. The Company intends to use the proceeds for general corporate purposes. Full Article
IAC/InterActivecorp Offers $300 Million For New York Times Co's About.com-Reuters
Reuters reported that IAC/Interactivecorp submitted an offer in excess of $300 million to buy the About.com information website from the New York Times Co. IAC wants to combine About.com with Ask.com, which has undergone a strategy shift over the last two years from generic search engine to a question-and-answer style service. The idea would be to leverage the content served up on About.com to answer questions users pose on Ask.com. Full Article
Mark Thompson to Become Next President and Chief Executive Officer of New York Times Co
New York Times Co announced that BBC Director-General Mark Thompson will become its next president and CEO. He will also become a member of the Company`s Board of Directors. Mr. Thompson, 55, will report to the Board of Directors and to Arthur Sulzberger, Jr., chairman of the Times Company. He is relocating to New York and is expected to start his new role in November. Full Article
The New York Times Company And Halifax Media Holdings LLC Complete Regional Media Group Transaction
The New York Times Company and Halifax Media Holdings LLC announced the closing of the sale of The New York Times Company Regional Media Group to Halifax Media Holdings LLC for $143 million in cash, subject to certain adjustments. The Times Company will record an after-tax gain on the sale in the first quarter of 2012 and estimates the net after-tax proceeds from the sale, including a tax benefit, will be approximately $150 million. The Times Company will use the net sale proceeds for general corporate purposes. Full Article
The New York Times Company Agrees To Sell Regional Media Group
The New York Times Company announced that it has entered into an agreement to sell its Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC for $143 million in cash, subject to certain adjustments. The transaction is expected to close within a few weeks and upon completion of the sale, the Company will record an after-tax gain on the sale in the first quarter of 2012. The Company intends to use the net proceeds for general corporate purposes. The Company estimates the net after-tax proceeds from the sale will be approximately $150 million. The Regional Media Group comprises the following publications: Sarasota Herald-Tribune in Sarasota, Fla.; The Press Democrat in Santa Rosa, Calif.; The Ledger in Lakeland, Fla.; Star-News in Wilmington, N.C.; Herald-Journal in Spartanburg, S.C.; Star-Banner in Ocala, Fla.; The Gainesville Sun in Gainesville, Fla.; The Tuscaloosa News in Tuscaloosa, Ala.; The Gadsden Times in Gadsden, Ala.; The Courier in Houma, La.; Times-News in Hendersonville, N.C.; Daily Comet in Thibodaux, La.; The Dispatch in Lexington, N.C.; Petaluma Argus-Courier in Petaluma, Calif.; News Chief in Winter Haven, Fla.; and North Bay Business Journal in Santa Rosa, Calif. Full Article
The New York Times Company Confirms It Is in Discussions To Sell Its Regional Media Group
The New York Times Company announced that it is in advanced discussions to sell its Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC. The Regional Media Group comprises the following publications: Sarasota Herald-Tribune in Sarasota, Fla.; The Press Democrat in Santa Rosa, Calif.; The Ledger in Lakeland, Fla.; Star-News in Wilmington, N.C.; Herald-Journal in Spartanburg, S.C.; Star-Banner in Ocala, Fla.; The Gainesville Sun in Gainesville, Fla.; The Tuscaloosa News in Tuscaloosa, Ala.; The Gadsden Times in Gadsden, Ala.; The Courier in Houma, La.; Times-News in Hendersonville, N.C.; Daily Comet in Thibodaux, La.; The Dispatch in Lexington, N.C.; Petaluma Argus-Courier in Petaluma, Calif.; News Chief in Winter Haven, Fla.; and North Bay Business Journal in Santa Rosa, Calif. Full Article
The New York Times Company Announces Management Changes
The New York Times Company announced that Janet L. Robinson, 61, President and Chief Executive Officer since 2004, will retire on December 31, 2011. Arthur Sulzberger Jr., currently Chairman of the Company and publisher of The New York Times, will serve as Chief Executive Officer on an interim basis. Ms. Robinson also will step down as a director of the Company on December 31, 2011. She has agreed to serve as a consultant to the Company for one year. Full Article
The New York Times Company Completes Sale of Baseline to Project Hollywood LLC
The New York Times Company announced that it has sold its Baseline unit to Project Hollywood LLC, a privately held company which is majority owned by media and Internet entrepreneurs Laurie S. Silvers and Mitchell Rubenstein. Terms of the transaction were not disclosed. Full Article
UPDATE 3-New York Times Co revenue slips on advertising decline
Aug 1 - New York Times Co's second-quarter revenue fell almost 1 percent as gains in subscriptions to its flagship and other newspapers could not offset declines in advertising.

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