New York Times 4

Question 3) Discuss the benefits and cost implications of editorial actions taken to regain the Times stride journalistically.

Answer- As New York Times was facing lots of problems within their internal environment like plagiarism and Fabrication of stories, so they invested heavy money for changing the structure so as to get the quality journalism in context with the staff as well as the quality of the news matter they publish because due to some of the journalist Times had already suffered its reputation going down as like NYT own journalist screws up their own reputation in Blair scandal of weapons of mass destruction in Iraq. So they invested and got the best journalist within their organization.  After Times started their progress in 2004 it was noticed an increase of 0.2 % in circulation of daily edition as well as the Sunday paper. NYT also upgraded their culture by adding 20 writing and editing jobs. They also made vast investment for entering into new media because becoming digital was the main and crucial area in which they got benefits as after collaborating with Discovery Communications Inc  as they reached 35 million homes and  they also was making money from online media. Times also got international from 2002 by getting full ownership of the International herald tribune and added a global dimension into their profile, and the same year they won 7 Pulitzers and it was the first time in the history. Also they collaborated half –ownership with the digital channel, discovery times which was operated by Discovery communication Inc. There was an increase in total revenues from 2002 to 2004 and NYT had more than half of the market revenue share. Efforts which has been taken by NYT was very good, which made them increase in website as approx 18 million people subscribe now each month and the sales of ad are grown from 30% to 40% a year. At the end the result was NYT increase its business to $100 million and also now times has 20 printing plants across the nation. Now after so many years NYT is one of the trusted brands of newspaper which is committed to its quality news and information in US and across different nation.

Citations:-   

Ø  http://www.mediaowners.com/company/newyorktimes.html

Ø  http://fox.wikis.com/wc.dll?Wiki~TurnaroundStrategy

Ø  http://www.nytco.com/company/

Ø  http://adrianmonck.com/2008/04/the-new-york-times-strategy/