N.Y. Times Co. forms separate unit for Internet holdings

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N.Y. Times Co. forms separate unit for Internet holdingsThe New York Times Co. created a separate Internet business unit, Times Company Digital, that will consolidate its Internet holdings under one company. Martin Niesenholtz, president of The New York Times Electronic Media Co., will become CEO of Times Company Digital, effective June 18. The unit will encompass the nearly 50 Web sites already within The New York Times Co., including The New York Times on the Web, Boston.com, New York Today and Wine Today, as well as the Web sites of its regional newspaper group, broadcast group and magazine group. Revenue from the new-media properties operated by The New York Times Co. is expected to be $24 million to $26 million in 1999, company executives projected.

Copyright May 1999, Crain Communications Inc.

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