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| 'New York Times' publisher says paper is not for sale |
"Will our family seek to sell the Times? The answer to that is no," said Sulzberger, who is also chairman of The New York Times Co., in a statement to employees Wednesday night.
"The Times is not for sale, and the Trustees of the Ochs-Sulzberger Trust and the rest of the family are united in our commitment to work together with the Company's Board, senior management and employees to lead The New York Times forward into our global and digital future," he said in the statement, which the Times provided USA TODAY.
In the wake of Monday's purchase of The Washington Post by Amazon.com founder Jeff Bezos — and the New York Times Co.'s sale of The Boston Globe to Boston Red Sox owner John Henry — media watchers been speculating on which major paper would be the next on the block. "There has been much speculation and understandable concern about what this could mean for us," Sulzberger said in the statement.
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"We were all taken by surprise on Monday afternoon with the announcement of the Graham family's decision to sell The Washington Post," the note to employees continues. "Surprise probably doesn't cover it; we were stunned. We have spoken to Don Graham, and he reiterated to us his desire to put The Washington Post into the hands of someone who he and his family believe is best positioned to help it grow and thrive and compete in the global and digital marketplace.
"It's sad to see a great American newspaper family like the Grahams depart from the Post, a publication for which we at the Times have much affection and common ground," it continues. "While the Times will continue to compete with them for the big story, we hope for the sake of quality journalism and an informed citizenry that Jeff Bezos will continue the tradition of excellence that the Grahams achieved in their eight decades of stewardship."
Sulzberger noted that the Times' digital subscription model, which requires readers to pay for online articles after reading 20 in a month, "set the standard for the industry and put us on the path forward," he said. "The Company is profitable and generates very strong cash flow, which we believe makes us perfectly able to fund our future growth. The Times has both the ideas and the money to pursue innovation."
