In 2020, it bought Serial Productions, the company behind the popular “Serial” podcast, for more than $25 million. That month the Times company also acquired the digital, subscription-based sports media business The Athletic for $550 million. It expanded beyond its print and digital news base, introducing products in categories such as cooking, shopping advice and puzzles like the Wordle game, which it acquired in January. Under Baquet, the Times won 18 Pulitzer Prizes, considered the most prestigious in U.S. The move toward more of a subscription-based model was an attempt to address the failings of the traditional advertising-based strategy in the digital era. In February the company announced it had reached its goal of 10 million subscriptions, years ahead of its 2025 target, and set a new target of at least 15 million subscribers by the end of 2027. Under Baquet, the Times’ first Black executive editor, the 171-year-old newspaper navigated attacks from President Donald Trump, whose presidency led to a surge in paying readers. "Under Dean and Joe, The Times has grown stronger in virtually every way."Īdded Sulzberger, "The Times has a longstanding practice of editors leaving the masthead at 65, which Dean wanted to honor given his strong belief that Joe was more than ready to fill his shoes." Sulzberger said in an internal memo sent Tuesday morning and seen by Reuters.
That's true," New York Times Co Chairman and newspaper Publisher A.G. "Some will interpret this promotion as a sign of confidence in our current path.
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