New York Times Groups Web Sites
NEW YORK (AP) - The New York Times Co. is grouping its
nearly 50 Web sites under one business unit, the company announced Monday. The new
division, Times Company Digital, will control all the company's Internet operations,
including the site for the company's flagship newspaper, nytimes.com, which currently has
some 7 million registered subscribers.
Other sites under the new unit include a regional information site for New
England, boston.com, which is run by The Boston Globe, one of the company's newspapers.
The division will also run a New York City guide called nytoday.com and winetoday.com, a
year-old site for wine enthusiasts. Arthur Sulzberger, Jr., chairman of the company, said
the consolidation move ``significantly advances our ability to build a high-quality,
high-value Internet presence and to respond even more quickly to the fast-moving Web
marketplace.'' The 50 Web sites are expected to generate revenues between $24 million and
$26 million this year.
New York Times Co. spokeswoman Nancy Nielsen said the company has no immediate
plans to sell shares in its Internet division. But, she added, ``We are always looking to
increase the value of our company for shareholders, so this is something we have explored
and will continue to look at.'' Other media companies have also consolidated their
Internet holdings, and some have announced plans to offer shares in the subsidiaries to
the public.
Last month, special-interest magazine publisher Primedia Inc. announced plans to
create two subsidiaries to manage its online operations. Computer magazine publisher
Ziff-Davis Inc. has issued a tracking stock for its ZDNet Group, and Barnes & Noble is
hoping to sell shares in its online bookstore.
