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What: The New York Times Company has acquired The Wirecutter and its sibling, The Sweethome in a US$30 million all-cash transaction that closed on October 24, 2016.
Why it matters: Following the acquisition, Brian Lam, founder of The Wirecutter and The Sweethome, will stay on in an advisory role, while Jacqui Cheng, editor-in-chief, and Christopher Mascari, product director, will remain in those roles.

5nhgij9-_400x400 iq1q7k2n_400x400The New York Times Company announced that it has acquired The Wirecutter and its sibling, The Sweethome, product-recommendation services that serve as a guide to technology gear, home products and other consumer services. The acquisition was an all-cash transaction that closed on October 24, 2016.

The Times will pay more than US$30 million, including retention bonuses and other payouts, for the startup, according to people familiar with the transaction.

Founded in 2011 by technology journalist Brian Lam, The Wirecutter and The Sweethome, its sister site, are lists of the best gadgets, gear and other products for people who quickly want to know what to get. The sites are built on the strong editorial backbone of journalists making research-driven, powerful product recommendations. The sites generate revenue primarily through affiliates—that is, money earned by offering direct links to merchants in exchange for a share of any ultimate sale. These merchants include both major online retailers such as Amazon, as well as niche and vertical-specific shops.

“We’re very excited about this acquisition on two fronts. It’s an impressively run business with a very attractive revenue model and its success is built on the foundation of great, rigorously reported service journalism,” said Mark Thompson, president and CEO of The New York Times Company. “The New York Times is the definitive source for news, information and entertainment and now we’re working on becoming an authoritative destination for service journalism, with verticals like Cooking, Watching and Well. The practical approach that The Wirecutter and The Sweethome take to product recommendations embodies the same standards and values that are the pillars of our own newsroom. Their service-focused guides align with our commitment to creating products that are an indispensable part of our readers’s lives,” Thompson added.

Following the acquisition, Mr. Lam will stay on in an advisory role, while Jacqui Cheng, editor-in-chief, and Christopher Mascari, product director, will remain in those roles. Ben French, vice president of NYT Beta, will serve as interim general manager and will work to integrate The Wirecutter and The Sweethome into The Times Company.

Mr. Lam said, “The New York Times is the perfect home for The Wirecutter because of our shared love and commitment to reader service and public good through rigorous reporting. And most important, we’re thrilled to have the chance to help Times readers find great gear that can improve their lives.”

 

What: The New York Times has launched a Spanish-language Web site to expand its reach in Spanish-speaking markets.The web site will include articles translated from English into Spanish as well as content from a team of journalists in Mexico City.
Why it matters: But for a few print editions inserted in Latin American newspapers, the New York Times had not made major digital forays into the Spanish-speaking world. It will be interesting to see if the new product gets traction, particularly in the U.S. Hispanic market.

photo by Scott Beale

In 2012 we reported about the launch of the Portuguese, mostly Brazil targeted digital edition of the New York Times. At the time, Times executive noted that a Spanish-language edition was 5 to 10 years away. Well, only four years later, the New York Times has launched a Spanish-language Web site, a new platform for expanding its scoop in the Spanish-speaking market. The site is free and the bet is to grow the business via digital advertising sales.

Most of the content of the new edition of the Spanish-language edition is originally written in English by New York Times Latin American correspondent and translated to Spanish.In addition, The New York Times en Español( nytimes.com/es), which launched on Feb. 8 and in time for Pope Francis’ visit to Mexico, is supported by a team of Latin American journalists based in Mexico City. In addition, the site will incorporate the work of Times correspondents in Venezuela, Brazil, Argentina and Miami. It will be optimized for mobile browsing.

The New York Times en Español is supported by a team of Latin American journalists based in Mexico City.

As Times’ digital subscribers keep growing (around 1.1 million,) the newspaper aims to increase digital subscribers to boost digital revenue, which stood at US$400 million in 2014. Even though so far the new Spanish site is free, with the potential for new advertising, the NYT Times could convert some of its users into paid subscribers of nytimes.com.

On its first day, The Spanish – English web site was running a story on the hazardous journey of Central American migrants who try to reach the United States, some articles on the Zika virus from Brazil and on politics in Peru and Venezuela.

The launch of the Spanish-language digital edition also reflects the New York Times objective to increase digital revenue. 

Last Thursday during a call with financial analysts, Dean Baquet, the executive editor of The New York Times Co., noted that “although our digital revenues are growing strongly, we continue to feel the impact of declines in parts of our print business,” he added. “That means the company must continue to carefully manage its costs.”

CHECK OUT Articles on the New York Times and other U.S. Media in Latin America
The New York Times Style Magazine launches in Mexico
How The Washington Post and Other Global Newspapers Are Tackling the LatAm Opportunity
Latin Interactive World: Do Latin Americans read Nytimes.com or The Economist.com?
Latin Digital Media: How the NYT, WSJ and Wapo target the Latin World
How U.S. Media Caters to Global Latin Audiences

 

What: The New York Times is introducing T México, a Mexican version of its U.S. New York Times T Style Magazine Two editions  will be published in 2014 and  it will turn to bimonthly in 2015.
Why it matters: This is a new brand extension of the New York Times in Latin America where it publishes weekly sections in several South Americans and Central American countries. This type of publication mostly targets to the thriving Latin American luxury goods consumer category. Recently the Wall Street Journal introduced The Wall Street Journal Magazine Brazil and The Wall Street Journal Magazine Latin America targeting a similar demographic and ad category.

cq5dam.thumbnail.624.351The New York Times Style Magazine is arriving to Mexico to celebrate its’ 10th anniversary. The official launch was held on October 30th, 2014, at the The St. Regis Mexico City, at an event that gathered important personalities of  the Mexican economic and political elite and various representatives of the New York Times. The highlight of this evening of celebration was the unveiling of the inaugural cover of T México, featuring the fashion designer and icon Carolina Herrera.The Spanish-language magazine combines local and regional features  with topical in-depth coverage, photographs and commentary from the flagship edition of T Magazine.

Sources at the New York Times told Portada that T Mexico initial distribution will be of 5,000 carefully controlled by a curator list and will be directly shipped to influential members of the Mexican community. It will also be available at various hotels, restaurants, galleries and boutiques throughout the country.Two editions to be published in 2014 and  it will turn to bimonthly in 2015.For the time being, the publication will only come out in print, but in the future there  a website as well as reaching new audiences and countries in Latin America is a possibility. There are other T magazines which already have presence in other countries like Qatar since 2010. The main ad-categories for this publication may expand on other ad categories like  Luxury watch, Jeweley, Fashion, Real State , Travel (hotels/ airlines), Design and more.

“More and more people want to know  what is going on in the world when it comes to trends,”said Sagrario Saraid.

Luxury Category play

Cesana Media will be the exclusive representative for this title in the U.S. market. This is a new brand extension of the New York Times in Latin America where it publishes a weekly edition in many South Americans and Central American countries. This type of publication mostly targets to the thriving Latin American luxury goods consumer category. Recently the Wall Street Journal introduced The Wall Street Journal Magazine Brazil and The Wall Street Journal Magazine Latin America targeting a similar demographic and ad category.

IAC has made a promotion at the top ranks of About.com, the company tapped Neil Vogel to be CEO of About.com, the curated information website it bought from The New York Times Company for $300 million last year.

Vogel was the founder and ultimately CEO of Recognition Media, a marketing company perhaps best known as the entity behind the online entertainment world’s Webby Awards. Before launching Recognition, he was a senior manager at digital publicity and content boutique Alloy Media + Marketing.

IAC quoted Vogel as saying about his new position that “I am thrilled to have the opportunity to dig in with the entire team and unlock its incredible brand potential.”

About.com has offerings targeting the Spanish-speaking world (mostly U.S. Hispanic market).

IAC  has made a promotion at the top ranks of About.com, the company tapped Neil Vogel to be CEO of About.com, the curated information website it bought from The New York Times Company for $300 million last year.

Vogel was the founder and ultimately CEO of Recognition Media, a marketing company perhaps best known as the entity behind the online entertainment world’s Webby Awards. Before launching Recognition, he was a senior manager at digital publicity and content boutique Alloy Media + Marketing.

IAC quoted Vogel as saying about his new position that “I am thrilled to have the opportunity to dig in with the entire team and unlock its incredible brand potential.”

About.com has offerings targeting the Spanish-speaking world (mostly U.S. Hispanic market).

starbucksMedia companies are finding innovative ways to promote their content to desired audiences. News brands like The New York Times and the Wall Street Journal are turning to free Wi-Fi as a way to promote their content.The New York Times announced that it is offering Starbucks customers free digital access to 15 articles per day on NYTimes.com through the Starbucks Digital Network (SDN).

Customers who are logged into the SDN can access up to three articles across five sections per day, including Top News, Business, Technology and Most E-Mailed. The fifth rotating section features the corresponding special section of the daily print paper and includes: Sports (Monday); Science (Tuesday); Dining (Wednesday); Styles (Thursday); Weekend (Friday); The Magazine (Saturday); and Sunday Review (Sunday).

News brands like The New York Times and the Wall Street Journal

starbucksIIThe new web-based, cross-platform solution utilizes a responsive design optimized for desktops, tablets and smartphones. The New York Times newspaper is already widely distributed in Starbucks restaurants across the country. The enhanced access will be available only in U.S. company-operated stores that offer free AT&T Wi-Fi.

“Starbucks is the ideal setting for The Times to offer enhanced digital access,” said Yasmin Namini, senior vice president, marketing and circulation, The New York Times. “Customers on SDN will discover a diverse selection of Times content updated in real-time, from the day’s top stories to more in-depth features and opinion.”

The New York Times allows non-subscribers to access a limited number of articles per month on NYTimes.com. Additional access requires a digital subscription. Times spokesperson, Linda Zebian told paidcontent that , confirmed by phone that the 15 articles available through Starbucks are in addition to the 10 free monthly ones. The catch, however, is that the Times’ chooses the free Starbucks stories. It offers them on a special landing page.

In August, the Wall Street Journal announced a plan to provide free Wi-Fi access in more than 1300 hotspots in New York and San Francisco; the only requirement is for readers to log-in to theJournal’s website.

starbucksMedia companies are finding innovative ways to promote their content to desired audiences. News brands like The New York Times and the Wall Street Journal are turning to free Wi-Fi as a way to promote their content.The New York Times announced that it is offering Starbucks customers free digital access to 15 articles per day on NYTimes.com through the Starbucks Digital Network (SDN).

Customers who are logged into the SDN can access up to three articles across five sections per day, including Top News, Business, Technology and Most E-Mailed. The fifth rotating section features the corresponding special section of the daily print paper and includes: Sports (Monday); Science (Tuesday); Dining (Wednesday); Styles (Thursday); Weekend (Friday); The Magazine (Saturday); and Sunday Review (Sunday).

News brands like The New York Times and the Wall Street Journal are turning to free Wi-Fi as a way to promote their content.

starbucksIIThe new web-based, cross-platform solution utilizes a responsive design optimized for desktops, tablets and smartphones. The New York Times newspaper is already widely distributed in Starbucks restaurants across the country. The enhanced access will be available only in U.S. company-operated stores that offer free AT&T Wi-Fi.

“Starbucks is the ideal setting for The Times to offer enhanced digital access,” said Yasmin Namini, senior vice president, marketing and circulation, The New York Times. “Customers on SDN will discover a diverse selection of Times content updated in real-time, from the day’s top stories to more in-depth features and opinion.”

The New York Times allows non-subscribers to access a limited number of articles per month on NYTimes.com. Additional access requires a digital subscription. Times spokesperson, Linda Zebian told paidcontent that , confirmed by phone that the 15 articles available through Starbucks are in addition to the 10 free monthly ones. The catch, however, is that the Times’ chooses the free Starbucks stories. It offers them on a special landing page.

In August, the Wall Street Journal announced a plan to provide free Wi-Fi access in more than 1300 hotspots in New York and San Francisco; the only requirement is for readers to log-in to theJournal’s website.

The New York Times recently signed several deals to launch Spanish weekly inserts in partner newspapers in México and Central America (logical entry points into the Latin American branded syndication market due to the very strong connection these countries have with Hispanics in the United States). The supplements include news coverage, commentary, color photos and graphics about the United States, world affairs, business, culture and social trends. Beyond, this NYT project isn’t limited to those two areas, as newspapers in Europe and Asia have also signed up for the service. The New York Times Company’s aim is to become more international.

The New York Times recently signed several deals to launch Spanish weekly inserts in partner newspapers in México and Central America. On January 12, a New York Times (NYT) supplement was launched in El Salvador’s Diario de Hoy. On November 23, 2002, New York Times supplements were published in the four Méxican dailies owned by Grupo Reforma: El Norte (Monterrey), Reforma (México City), Mural (Guadalajara) and Palabra (Saltillo). On November 3, 2002, the Dominican Republic’s weekly, Listin Diario, began publishing its NYT supplement.

The supplements include news coverage, commentary, color photos and graphics about the United States, world affairs, business, culture and social trends. Aidan McNulty, marketing and communications manager at the New York Times Syndication Sales Corp. told Portada™ that these supplements are published in Spanish and retain the layout and typography of the New York Times. The supplements are prepared in New York by a team of nine editors, translators, and designers from the New York Times News Services under the supervision of Paul Laurence, the executive editor of the New York Times News Service.

México and Central America are logical entry points into the Latin American branded syndication market due to the very strong connection these countries have with Hispanics in the United States. “These pages extend our connection with the large population of Dominicans who reside in the United States,” said Miguel Franjul, director of the Dominican Listin Diario.

It will be interesting to see if the New York Times Company is able to sign additional agreements in South America. With some Latin American countries very critical of U.S. foreign policy, a supplement from a U.S. newspaper might not be popular.

The New York Times Company, said McNulty, is not looking to expand these branded syndication deals in Spanish into the U.S. Hispanic market. In a related story, The Wall Street Journal began its first U.S. Hispanic partnership, extending its franchise into the U.S. Hispanic market in late October 2002 through a partnership with Spanish language weekly Washington Hispanic (Portada™ No. 1 January/February 2003, page 3).

‘We are not currently looking to expand our branded syndication deals to the US-Hispanic market.’

The financial arrangement
McNulty was not specific about the financial agreement between the NYT and the Latin American papers, but said that each paper pays a flat fee to publish the supplement. “They keep any ad revenues,” said McNulty. As to whether the papers have exclusive rights to NYT supplements in their own markets, McNulty said that he deals with the issue of exclusivity. Industry insiders assume that these deals with Latin American newspapers do grant exclusivity.

“This is an international project and it is not limited to Latin America. There are also newspapers in Europe and Asia that have signed up for the service,” explained McNulty. Among the European and Asian newspapers that have signed a supplement deal are the Danish paper Politiken, India’s Asian Age and Le Monde in France.

“We see the expansion of this weekly supplement to Europe, and now Latin America, as an opportunity to bring the New York Times’ brand of quality journalism to a global audience,” said Janet Robinson, president and general manager of the New York Times.

Global age, global brand
In fact, the Latin American branded syndication deals are a relatively small part of the NYT strategy to internationalize its brand. The acquisition last fall of International Herald Tribune (IHT) was the beginning of an aggressive international strategy. The New York Times Company purchased the 50% of International Herald Tribune that it did not already own from Washington Post Company for roughly US $75 million, after publishing the paper jointly for more than 30 years.

The IHT had a circulation of 264,000 last year (Europe/Middle East/Africa: 175,000, Asia/Pacific: 74,000, Latin America: 15,000). It is printed at 22 plants around the world and distributed in more than 180 countries. Its reader demographics are very desirable; the average household income of its readers is US $164,000.

Since the acquisition, the NYT has moved quickly to integrate the IHT editorial and advertising structures into the domestic paper, putting together ad-sales efforts on both sides of the Atlantic. For its part, The Washington Post unveiled, in January, an agreement with Dow Jones to republish Post stories in overseas editions of The Wall Street Journal.

The New York Times Company’s acquisition of IHT triggered speculation that the NYT will use it as a platform to launch an international edition to compete with the international editions of The Wall Street Journal and the Financial Times, which are currently published in Europe, Asia and Latin America.

Regarding its reader base, the New York Times remains largely a regional newspaper. 71% of its weekday circulation comes from the Northeast and Middle-Atlantic states. However, more than 60% of its advertising revenues in 2002 were derived from the national category. Classified ads represented around 25% and retail the remaining 12%. Full ownership of International Herald Tribune should help to broaden the NYT’s readership and advertising. Arthur Ochs Sulzberger Jr., chairman of the New York Times Company, said recently that the company is considering whether to change the IHT’s name. (Possibly to New York Times International?)