History
The New York Times has been around since 1851 when former New York Tribune staffers, George Jones and Henry Raymond, founded it. With the onset of “yellow journalism” by competing newspapers causing the newspaper to lose ground, the newspaper was ultimately purchased by Tennessee newspaperman Adolph Ochs in 1896. In 1944, the company began to diversify with the purchase of two New York City radio stations. Following many more acquisitions, in 1992 The New York Times purchased Affiliated Publications, the owner of The Boston Globe.
The time is now 1995; the internet is slowly evolving, and just as the company survived the arrival of television and other technology so it must with the internet. Convinced the internet will have a positive effect on the company; four employees were assigned to the website project. In a later show of further commitment to the internet, the company hired an interactive media expert to be the president of the future New York Times Digital (NYTD) website: NYTimes.com. Similar to other news organizations, The New York Times set up a barrier between the business and editorial sections of the newspaper to maintain editorial independence. However, the president of NYTD is to report to both the general manager and editor of the newspaper.
The industry has had its share of ups and downs. During the early years, the press took off with the creation of the penny press. Another insurgence of profitability came with the onset of “yellow journalism.” However, revenues declined during the Great Depression and new competition from radio hurt the industry. From 1929 to 1933, advertising revenue dropped 45%. Then in the 1960s, with the popularity of television, the newspaper industry took another...
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...cause NYTD was primarily a software operation. Many of the executives were skeptical about letting another department use the New York Times brand without them having ultimate control over the quality of the product they produced. New York Times has been a respected name for over one hundred and fifty years it did not want to just release its popularity and success to just anyone. The quality of the product produced by NYTD needed to be equal to or better than New York Times itself.
Although NYTD pays a substantial $5,000,000 per year for New York Times content, the newspaper must maintain significant control over the editing of its content for use on the internet. No matter what happens, NYTD will be in some semblance part of the newspaper as a value added product.
http://digitalstrategies.tuck.dartmouth.edu/cds-uploads/case-studies/pdf/20006_NYTDigital.pdf
The New York Times. The New York Times Company, 04 May 1993. web, 10 October
forced many newspapers and radio stations to work harder in keeping business. T.V. shows like Leave it to B...
New York Times. The New York Times Company, 23 Jan. 2010. Web. 22 Jan. 2014.
However, the monopoly status of the company caused many filed law suits, which finally led to the divestiture of the firm. After the divestature AT&T and the regional Bell operating companies, AT&T lost most of its market share and customers, due to competition and loss of its competitive advantage, namely the ability to reach its wires and bills to every American house. Consequently, since the company was still a huge cash generating company, it decided to diversify into new sectors. Indeed it took over the computer maker NCR, McCaw, some other...
The magazines were one form of mass media that influenced that US involvement in World War 1. Magazines such as Collier’s, Cosmopolitan, Ladies Home Journal, Saturday Evening Post, and McCall’s would publish copies in the millions. The increase in magazine production restructured the entire media industry, creating competition between newspapers. This caused an increase of newspapers to leave the old and bring in the new a lot faster. This competition created a motivation to get the new news faster and more efficiently than ever before and also the decrease in value between the newspaper and also the magazine. This decrease in value emerged the advertisements within newspapers and magazines.
Viacom formed when FCC rules had forced CBS to spin off some of its cable TV and program operations, this happened in 1971. Viacom then buys WAST-TV in 1979, in 1985 Blockbuster Video is founded, in 1981 the NAI buys majority interest ( Sumner Redstone owns this), in 1994 Viacom announces multi-transponder, multi-satellite agreement with PanAmSat. Also in 1994 Viacom and Paramount announces 8.4 billion dollar merger, Viacom then sells its 33% share of Lifetime. In 1995 Viacom spins off its cable systems for Tele-communications, in 1999 Viacom bought CBS for 50 billion dollars. There are other acquisitions and selling’s through which Viacom became so large, but I did not include every little thing.
Articles in the New York Times that were written by Jayson Blair were fabricated which lead to the two main editors of the newspaper to resign
When the Internet and the flood of news and information in real time came, paid circulation fell from 3.2 million to 1.5 million. Newsweek tried to reinvent itself but the losses in circulation continued. In 2010, Washington Post Co. sold Newsweek to Sidney Harman, the 92 year old co-founder of Harman Kardon for $1 and the assumption of its debt. Newsweek merged wit the Daily Beast, an online publication led by editor-in-chief Tina Brown who assumed the position of Newsweek’s editor.
USA Today, or USTA was launched in 1982. It was the first daily national newspaper, and offered news regarding every state in the nation. It had both weekly and daily newspapers. Though it started out slow, as the reporting quality increased, so did the advertising and revenue.
In 1882, Samuel Sachs, Goldman’s son-in-law, joined the company. Henry Goldman and Ludwig Derfuss later joined the business, which later made the company adapt the well-known name, Goldman Sachs & Co. According to William Cohan 2012, Money and power: How Goldman Sachs Came to rule the world, The Niche the company found in selling commercial paper for entrepreneurs, contributed to the firm being invited to join the NYSE and its revenue of $1.6 million in 1896.Even though it was still considered a small firm, Goldman Sachs branched out into handling debts and currencies overseas. William Cohan goes on to state that because Henry Goldman’s had a relationship with the owner of Sears, Julius Rosenwald, it made the deal possible, and the interests of other companies such as, Roebuck and company, F.W. Woolworth and Continental Can, contributed to Goldman Sachs entrance into the (IPO) initial public offering market in 1906. With the company now being led by the Sachs family. Goldman Sachs changed its focus and began to expend and recruit in other areas. The company started a Trading Corp operation, which failed one year later due to the 1929 stock market crash. This hurt the firm’s reputation for years to come because of accusations of shares manipulation and insider trading according to William Cohan
According to Pew Research Center's Journalism Project, the overall drop in newspaper circulation began in 1989 and has been at a gradual decline of 1% a year since (Pew Research Center's Journalism Project, 2007). 1989 is also the year of the birth of the World Wide Web(Home.web.cern.ch, 2014).
In order to understand new media, one must first have a solid background of the old media. The old media traces its origins back to the “elite or partisan press [that] dominated American journalism in the early days of the republic” (Davis 29). With the advent of the penny press around 1833, the press changed its basic purpose and function from obtaining voters for its affiliated political party to making profit (Davis 29). With more available papers, individual companies competed with each other with “muckraking journalism”—investigative journalism exposing corruption—and “yellow journalism”—sensationalist journalism that completely disregarded the facts (Davis 30). The press continued to evolve its journalistic approaches and next shifted to “lapdog journalism,” r...
"Journalists and Social Media | The Changing Newsroom." The Changing Newsroom | New Media. Enduring Values. Web. 05 Dec. 2010. .
Robinson, S. (2007). "Someone's gotta be in control here": The institutionalization of online news and the creation of a shared journalistic authority. Journalism Practice, 1(3), 305-321
The newspaper industry presaged its decline after the introduction of the television and televised broadcasting in the 1950s and then after the emergence of the internet to the public in the 1990s and the 21st century with its myriad of media choices for people. Since then the readership of printed media has declined whilst digital numbers continue to climb. This is mostly due to television and the internet being able to offer immediate information to viewers and breaking news stories, in a more visually stimulating way with sound, moving images and video. Newspapers are confined to paper and ink and are not considered as ‘alive’ as these other mediums.