Pinch Sulzberger announced to the staff today that, after a year of rethinking strategy for The New York Times, he’s made “some very hard choices about what kind of company we are going to be five years down the road. Regrettably, in an era of scarcer resources, we concluded that we cannot be all things to all people.” As a result, the NYT plans to sell its Broadcast Media Group, which includes nine network-affiliated television stations and their related properties: WHO-TV in Des Moines, Iowa (NBC); KFSM-TV in Ft. Smith, Ark. (CBS); WHNT-TV in Huntsville, Ala. (CBS); WREG-TV in Memphis, Tenn. (CBS); WQAD-TV in Moline, Ill. (ABC); WTKR-TV in Norfolk, Va. (CBS); KFOR-TV in Oklahoma City, Okla. (NBC); KAUT-TV in Oklahoma City, Okla. (MyNetworkTV); and WNEP-TV in Scranton, Penn. (ABC). The proposed sale is aimed at enabling the NYT to “place an even greater emphasis on developing and integrating our print and rapidly growing digital resources. This makes the most sense for our Company and it will enable us to make the best use of our considerable journalistic and financial strengths.” The latest moves comes after increasing Wall Street criticism of the way the Sulzberger family is running the NYT Co.
NYT Selling Off Its Broadcast Network
What's Hot on Deadline
'Beauty And The Beast' Nears $700M WW; 'Kong' Has Mighty $72M China Bow, Tops $250M Offshore - International Box Office
'American Horror Story' At Paley Fest: Is Sarah Paulson's Supreme 'Coven' Character Returning In Season 7?