New York Times to Invest $50 Million in Global Digital Expansion
Over the next three years, the New York Times (NYSE: NYT) will invest more than $50 million to grow its international digital audience and increase international revenue, the company announced yesterday. In a memo to employees, Times’ publisher Arthur Sulzberger Jr., CEO Mark Thompson and executive editor Dean Baquet explained the move: “Because our digital report is still designed and produced mainly for a U.S. audience, we have not come close to realizing our potential to attract readers outside our home market. We are confident this will be a down payment on a new era of international growth for our company…”
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