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Posts Tagged ‘New York Times Company’

New York Times Company CEO Plunks Down Seven Figures for ‘Dilapidated’ Four-Bedroom

Perhaps it’s time for Merriam-Webster’s One-Percenter Dictionary. Because as noted this afternoon on Twitter by Michael Calderone and HuffPost Media, this rarefied group’s definition of English-language words can be a little different than yours or ours.

TheCornwallThe Twitter discussion was sparked by an article by The Real Deal Web producer Mark Maurer. The item details the purchase by New York Times Company CEO Mark Thompson and his wife of a $3.4 million unit in Upper West Side cooperative The Cornwall:

Lynn Sullivan of Brown Harris Stevens represented the seller, while Jeffrey Silverstein of Douglas Elliman represented the buyer. The seller was John Ziegler, who lived there for about 35 years and wanted to scale down, Sullivan said.

“The seller didn’t want anyone to rip it apart, but this couple was interested in restoring it,” Sullivan told The Real Deal. “They said, ‘We can see the treasure in a dilapidated castle.’”

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Boston Globe Sale Goes Into Extra Innings

The bottom of the ninth for this particular media deal was last Friday. That’s when the New York Times Company was all set to complete the transfer of the Boston Globe to Red Sox owner John Henry.

NewsTelegramLogoHowever, per a report in the Worcester Telegram & Gazette (one of the other publications attached to the deal), a Superior Court judge on that same day issued a temporary restraining order blocking finalization of the $70 million transaction. It has to do with a class action suit, filed in 2009 against the Telegram & Gazette, by the paper’s carriers. From T&G editor Aaron Nicodemus:

On Monday, the New York Times asked that the judge’s restraining order be lifted, and the sale be allowed to go through. In exchange, the New York Times would set aside a sum of money — to be determined by Judge [Sharon] Frison — that would be designated to pay a future settlement in the case.

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Who Will Buy the Boston Globe?

For east coast media watchers, that’s a big question today, the deadline for getting a bid in to the Boston Globe‘s NYT parent company.

Emily Steel, U.S. media and marketing correspondent for the Financial Times, shared a definitive rundown Wednesday of today’s likely bidders. Today, it’s the turn of Stacey Vanek Smith, a senior reporter for Marketplace Morning Report:

Bids for the Globe are expected to be in the $100 million range. The New York Times company paid more than a billion dollars for the publication 10 years ago.

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Major Media Companies Unite to Launch NewsRight

Yesterday, 29 media companies including The Associated Press, The New York Times Company, and Hearst announced the launch of NewsRight. The venture is described as “an independent digital rights and content licensing organization.”

Headed by former ABC news president, David Westin, NewsRight has been in development for a few years under different names including News Registry, a property spearheaded by the AP.

“More news is available more ways than ever in history. But if reliable information is to continue to flourish, the companies investing in creating content need efficient ways to license it as broadly as possible,” said Westin. “NewsRight’s mission is to make sure consumers continue to benefit from the all the original news reporting they want while ensuring those who republish content do so with integrity. ”

In a nutshell, the service makes it easier for media outlets to license news content from the roster of NewsRight companies and in turn, provide both licensees and licensors with analytics regarding the use of content.

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The New York Times Vows To Maintain Online Presence Despite Paywall

The New York Times will ring in the new year by charging readers to view their online content, however Times executives are not overly concerned about the consequences of this new paywall.  Earlier this year, it was announced that starting in January the Times would introduce a metered model that offers users free access to a set number of articles per month and then applies charges once readers exceed that number. 

Speaking today at the World Editors Forum in Hamburg, Germany, New York Times Company president and CEO, Janet Robinson, said the Times will not shy away from the “online conversation.”  Robinson assured those in attendance that nytimes.com will stay active in the ”open web ecosystem” and “a great deal of thought has gone into [their] preparation for this conversion.”   

In September 2005, the Times launched their first online paywall when over 200,000 users registered  for access to TimesSelect — a subscription based service for daily columns.  TimesSelect was discontinued in September 2007.

New York Times Co.’s CIO Knows How To Pump You Up

bioImage_Joseph_Seibert.jpgThe kids over at Gawker have found out an interesting hobby of The New York Times Company‘s Chief Information Officer Joseph Seibert: he’s a professional body-builder.

Not like Seibert is trying to keep his secret identity as a “Pumping Iron” contestant under wraps; the pictures found by Gawker are featured for a 2008 Jersey bodybuilding Web site and on MuscularDevelopment.com.

It’s been a little over a year since Seibert was vetted to work from the Times Co., following his role of COO at Mark Ecko, and before that Home Decor Products. In between these high-stress roles, Seibart likes to unwind by turning his body into a finely-toned machine.

Read More: Keeping the NYTimes.com Pumped — Gawker

MuscularDevelopment.com

Previously: The New York Times Company Names Joseph N. Seibert Chief Information Officer

(Photo via The New York Times Co.)

Boston Globe Staffers Throw Sad Pay Cut Potluck Party

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Members of the Boston newspaper guild at the beleaguered Boston Globe were given a 23 percent pay cut this week, so the they’re hosting a “Farewell to Fair Wages” barbecue tomorrow afternoon as the cut takes effect. The event will take place in a reporter’s back yard in Milton, Mass. just outside of Boston. It will be a typical suburban shindig where guests can drown their sorrows in “pot luck fare, a kiddie pool, a keg of beer…and hot dogs.” There will also be a bluegrass band. If you were looking for a single anecdote to illustrate the sad collapse of print media, this is it.

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Members of the Boston newspaper guild at the beleaguered Boston Globe were given a 23 percent pay cut this week, so the they’re hosting a “Farewell to Fair Wages” barbecue tomorrow afternoon as the cut takes effect. The event will take place in a reporter’s back yard in Milton, Mass. just outside of Boston. It will be a typical suburban shindig where guests can drown their sorrows in “pot luck fare, a kiddie pool, a keg of beer…and hot dogs.” There will also be a bluegrass band. If you were looking for a single anecdote to illustrate the sad collapse of print media, this is it.

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The Boston Globe May Be For Sale As Tense Labor Talks Continue

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Boston Newspaper Guild president Dan Totten responded on Tuesday evening after the New York Times Company, which owns the Boston Globe, announced a 23 percent pay cut for Guild members at the struggling newspaper. In addition to trying to cut costs, the Times Company may also be seeking to sell the Globe, which posted a $50 million operating loss last year and is poised to lose another $85 million in 2009. According to an article published in the Globe, two sources who are interested in buying the paper say the NYTCO has hired Goldman Sachs to review offers for the Globe. Cutting costs at the paper would help relieve financial pressures at the Times Company, which recently reported losses of $74.5 million for the first quarter of this year and could also make the the Globe more attractive to prospective buyers. Last month, the Times Company threatened to close the Boston Globe unless the paper’s unions agreed to $20 million in cuts.

The pay cut came after the Guild, which is the largest union at the Globe, voted on Monday to reject $10 million in budget cuts proposed by the Times Company by a narrow margin of 277 to 265. The Globe has released a statement saying management is disappointed that the Guild rejected their original proposal, which would have led to and 8.3 percent wage cut and elimination of lifetime job guarantees for about 190 Guild members. The plan called for Guild members who lose their lifetime guarantees to receive a $33,000 payment and severance if they are laid off. Guarantees have been a major sticking point throughout the month of talks between the Globe’s management and unions. The Boston Newspaper Guild also released a petition calling for the NYTCO to “to negotiate in good faith and agree to third-party mediation.” Reportedly, potential buyers for the Globe won’t be submitting bids until the Guild situation is resolved– and that could take quite some time.

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