NEW YORK CITY-After two storied newspapers—the Boston Globe and the Washington Post-were sold in the past week, the publisher of the New York Times here says the newspaper is not on the market for sale.
New York Times Publisher, Arthur Sulzberger Jr., who is also chairman of The New York Times Company, stressed that The Times does not plan to follow a similar path as the Washington Post and Boston Globe.
“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,” Sulzberger and Michael Golden, the vice chairman of The New York Times Co., said in a statement.
In an earnings statement released last week, The Times reported it had posted a profit in its most recent quarter due to stronger circulation revenue and lower operating costs. The company reported that net income increased 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 same period a year earlier. See story in the New York Times.