NEW YORK TIMES: …In a statement, the publisher, Arthur Sulzberger Jr., who is also chairman of The New York Times Company, said that he and Michael Golden, the vice chairman, had spoken to Donald E. Graham, chairman and chief executive of The Washington Post Company, about his decision to sell The Post and some smaller newspapers and stressed that The Times did not plan to follow a similar path.
“Will our family seek to sell The Times? The answer to that is no. The Times is not for sale, and the trustees of the Ochs-Sulzberger Trust and the rest of the family are united in our commitment to work together with the company’s board, senior management and employees to lead The New York Times forward into our global and digital future,” the statement said…
In an earnings statement released last Thursday, The Times reported that while it still faced a troubled print advertising market, it swung to a profit in its most recent quarter because of stronger circulation revenue and lower operating costs. The company reported that net income rose to $20.1 million, or 13 cents a share, in contrast to a loss of $87.6 million, or 58 cents a share, in the period a year earlier… (more)
