DIRS.INFO The most relevant business & tech news

☆ Reddit's lost money for nearly 20 years. Turning a profit is going to be tricky.
▼ + stars: | 2024-03-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewReddit was founded nearly two decades ago, yet it's never turned a profit. After the initial pop in Reddit stock, it slid nearly 9% during its second day of trading on Friday, only to jump 30% on Monday. Reddit framed that as a huge opportunity to attract international users, and appeal to a much larger audience with foreign-language posts. Now that Reddit's finally public, it may be able to reinvent its business and supercharge its finances.

Persons: —, it's, Reddit, There's, The_Donald, Reddit's Organizations: Service, Business, New York Times Company, Facebook

Microsoft filed a motion in federal court on Monday that seeks to dismiss parts of a lawsuit brought by The New York Times Company. The Times sued Microsoft and its partner OpenAI on Dec. 27, accusing the two companies of infringing on its copyrights by using its articles to train A.I. In its motion, filed in U.S. District Court for the Southern District of New York, Microsoft argued that large language models, or L.L.M.s — the technologies that drive chatbots — did not supplant the market for news articles and other materials they were trained on. The tech giant compared L.L.M.s to videocassette recorders, arguing that both are allowed under the law. than it was to the VCR (or the player piano, copy machine, personal computer, internet or search engine),” the motion read.

Persons: OpenAI Organizations: Microsoft, The New York Times Company, The Times, Southern, of Locations: U.S, of New York

☆ OpenAI Seeks to Dismiss Parts of The New York Times’s Lawsuit
▼ + stars: | 2024-02-27 | by ( Cade Metz | Katie Robertson | ) www.nytimes.com time to read: 1 min

OpenAI filed a motion in federal court on Monday that seeks to dismiss some key elements of a lawsuit brought by The New York Times Company. The Times sued OpenAI and its partner Microsoft on Dec. 27, accusing them of infringing on its copyrights by using millions of its articles to train A.I. technologies like the online chatbot ChatGPT. Chatbots now compete with the news outlet as a source of reliable information, the lawsuit said. In the ordinary course, one cannot use ChatGPT to serve up Times articles at will.”

Persons: OpenAI, Chatbots, ” “, “, ” Organizations: The New York Times Company, The Times, Microsoft, Southern, of, New York Times Locations: U.S, of New York

☆ New York Times Co. Adds 300,000 Digital Subscribers in Quarter
▼ + stars: | 2024-02-07 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com time to read: +1 min

The New York Times Company added 300,000 paid digital subscribers in the fourth quarter of 2023, the company said on Wednesday, helping to push annual revenue for digital subscriptions above $1 billion for the first time. The Times reported total revenue of $676.2 million in the last three months of the year, essentially flat compared with a year earlier. Adjusted operating profit increased 8.5 percent, to $154 million. It was “a strong year for The Times that showcased the power of our strategy to be the essential subscription for every curious person seeking to understand and engage with the world,” Meredith Kopit Levien, the company’s president and chief executive, said in a statement. The company has focused in recent years on pushing a bundle of products to subscribers: its core news report as well as games like Wordle and Spelling Bee; its product review site, Wirecutter; a recipe app; and The Athletic, its sports news website.

Persons: ” Meredith Kopit Levien Organizations: New York Times Company, The Times, Athletic

☆ Pro-Palestine protestors crash a press freedom gala to call out media for coverage of the Israel-Hamas war
▼ + stars: | 2023-11-17 | by ( Noah Hurowitz | ) www.businessinsider.com time to read: +5 min

Pro-Palestine media workers protested Western news outlets' coverage of the conflict in Gaza. The protestors gathered at a press freedom gala in Manhattan Thursday night. ET, chanting and handing out a mock newspaper printed in the style of the Times and titled "The New York War Crimes." Noah Hurowitz/Business Insider"I wish you knew what you were talking about," muttered Michael Golden, a businessman who served until 2016 as vice-chairman of the New York Times Company. "I know how the New York Times works, and they don't," he said, as a woman accompanying him urged him to stop talking.

Persons: —, Meredith Kopit Levien, Harron Walker, Walker, Noah Hurowitz, Michael Golden Organizations: Palestine, Service, New York Times, Times, Protect Journalists, West Bank —, New York Times Company, Gaza Ministry of Health, Hamas Locations: Gaza, Manhattan, Midtown Manhattan, Israel, Palestine, York

☆ The New York Times Passes 10 Million Subscribers
▼ + stars: | 2023-11-08 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com time to read: +1 min

The New York Times now has more than 10 million subscribers, the company said on Wednesday, edging closer to its goal of 15 million by the end of 2027. In its third-quarter report, The New York Times Company said it had added 210,000 net digital-only subscribers in the three months through September, giving it 9.41 million along with 670,000 print subscribers. The Times Company has focused on getting subscribers to sign up for more than one of its offerings, which include the core news report, Cooking, Games, the Wirecutter review site and the sports news site The Athletic. Nearly 3.8 million of the 9.41 million digital-only subscribers are subscribed to at least two products, the company said. Meredith Kopit Levien, the company’s president and chief executive officer, said in a statement that the third-quarter results showed that The Times’s “multiproduct bundle” was performing well and would “further us down the path to building a larger, more profitable company.”

Persons: Meredith Kopit Levien, ” Organizations: New York Times, New York Times Company, The Times Company

☆ Stocks week ahead: Here’s how America’s economy could begin to weaken
▼ + stars: | 2023-11-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The job market or spending? The spending argument: But there have been instances in which spending weakened before the job market. “I think it starts with the perception of the labor market,” Drew Matus, chief market strategist at MetLife Investment Management, told CNN. The ticket-industry giant said it has sold a record 140 million tickets so far this year, up 17% year-over-year and has already surpassed the 121 million tickets sold in all of 2022. In the third quarter, Ticketmaster sales surged 57% to $833 million and 90 million fee-bearing tickets were sold in the period.

Persons: can’t, ” Shannon Seery, “ It’s, ” Seery, Luke Tilley, ” Tilley, Jerome Powell, ” Drew Matus, ”, Taylor Swift, Parija Kavilanz, Swifties, Taylor, Michael Rapino, Beyoncé, Harry Styles, Bunny, Jonas Brothers, Bruce Springsteen, Lisa Cook, Michael Barr, Jeffrey Schmid, Christopher Waller, John Williams, Lorie Logan, Ralph Lauren, Steve Madden, Phillip Jefferson, Raphael Bostic, Tom Barkin, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, CNN, Employers, Investment Advisors, Companies, National Bureau of Economic Research, CNN Wednesday, Federal, MetLife Investment Management, Ticketmaster, Ryanair, Goodyear, Fed, Reserve Bank of Australia, Uber, Occidental Petroleum, KKR, The Carlyle Group, US Commerce Department, Biogen, Warner Bros, Teva Pharma, The New York Times Company, Armour, SeaWorld, MGM Resorts, China’s National Bureau of Statistics, Sony Group, Astrazeneca, Tapestry, News Corp, US Labor Department, Soho House, National Statistics, European Central Bank, University of Michigan Locations: Washington, Wells, Wilmington, Lyft, Brookfield, Soho

☆ Mark Thompson, former New York Times Company and BBC exec, expected to serve as the next CEO of CNN after Chris Licht's epic PR fail, according to new report
▼ + stars: | 2023-08-30 | by ( Kelsey Vlamis | Erin Snodgrass | ) www.businessinsider.com time to read: +1 min

Puck reported CNN has tapped Mark Thompson to step in as CEO and chairman. Thompson formerly served as CEO of the New York Times Company and director general at the BBC. The news comes after Chris Licht stepped down following low ratings and what many called a PR disaster. AdvertisementAdvertisementMark Thompson, who formerly served as CEO of the New York Times Company and director general at the BBC, has been tapped to take over as CEO and chairman at CNN, Puck News first reported Tuesday. Licht's 13 months at CNN were characterized by big shakeups and a widely criticized town hall with former President Donald Trump.

Persons: Puck, Mark Thompson, Thompson, Chris Licht, Puck's Dylan Byers, bigwigs, Nich Carlson, Licht's, Donald Trump Organizations: CNN, New York Times Company, BBC, Puck News

CompaniesCompanies Law Firms FTX Trading Limited FollowNEW YORK, June 23 (Reuters) - A group of media organizations on Friday appealed a court decision that allows collapsed crypto exchange FTX to keep customer names secret during its bankruptcy case. U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, ruled earlier this month that FTX did not have to reveal its customers' names because doing so could expose them to identity theft and other scams. After the judge in the Celsius case ordered customers' names be revealed, Celsius users saw an increase in phishing attacks from scammers who posed as bankruptcy attorneys and Celsius employees, according to FTX's court filings. FTX said it had approximately 9 million users who might be targeted by scams if their names were revealed. FTX Trading and more than 100 affiliates in November filed for bankruptcy protection in Delaware to address claims that the company misused and lost billions in customers' crypto deposits.

Persons: John Dorsey, FTX, Dorsey's, scammers, Sam Bankman, Fried, Dietrich Knauth, Alexia Garamfalvi, Daniel Wallis Organizations: Bloomberg, Dow Jones & Company, The New York Times Company, Financial, Thomson Locations: Wilmington , Delaware, Delaware

☆ The Times Added 190,000 Subscribers Last Quarter
▼ + stars: | 2023-05-10 | by ( Benjamin Mullin | ) www.nytimes.com time to read: +1 min

The New York Times Company on Wednesday said it added 190,000 digital subscribers last quarter, driven partly by subscriptions to a bundle of products that includes The Athletic sports site, bringing the company’s total digital subscriber base to nine million. Adjusted operating profit was $54 million, a drop of 11 percent from a year earlier, as the new subscription revenue was offset by higher operating costs and lower advertising revenue. “In the first quarter, we made steady progress on our essential subscription strategy, with clear signs of substantial runway ahead,” Meredith Kopit Levien, chief executive of The Times, said in a statement. Over the last decade, The Times has tried to offset declines in its print business — which is profitable but fading — with new revenue from digital subscribers. In recent years, the company has honed that strategy by offering readers a bundle of online utilities including a cooking app, the Wirecutter online shopping service, games like Wordle and The Athletic, pitching itself to subscribers as a guide to the wider world.

☆ In Blow to DeSantis, Florida Bills to Limit Press Protections Are Shelved
▼ + stars: | 2023-05-03 | by ( Ken Bensinger | ) www.nytimes.com time to read: +1 min

Legislation that would have sharply curbed press protections in Florida has stalled in the State Legislature and won’t face a vote this year — a rare example of forces on the right thwarting a piece of Gov. The bills, introduced in February, proposed sweeping changes to laws that shield media outlets from liability in defamation cases and sought to make it easier for private citizens to file libel suits. In addition to opposition from news outlets and free-speech groups, the legislation faced a wave of resistance from his allies, including right-wing media outlets, Christian organizations and business groups. They argued that the legislation would harm all news media, including conservative outlets, and lead to an increase in frivolous and costly lawsuits. The Florida bills were part of a broader effort to revisit the First Amendment protections for the media.

☆ Stocks making the biggest moves midday: CVS, Fortinet, Lumen Technologies, Alphabet & more
▼ + stars: | 2023-02-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines in midday trading Wednesday:Lumen Technologies — Shares fell 22.5% after the cloud network data company reported a fourth-quarter loss of about $3.1 billion. CVS Health — CVS Health gained 4.6% after the company surpassed profit and sales expectations in its latest quarterly results. The New York Times Company — Shares for the media organization popped more than 14% after its fourth-quarter earnings beat analyst estimates. The company reported earnings of 59 cents per share, which was greater than a Refinitiv estimate of 43 cents per share. Fortinet posted earnings of 44 cents per share, while analysts expected 39 cents per share, according to StreetAccount.

Search resuls for: "The New York Times Company"

12 mentions found