This comes at the same time, members of the three unions at the New York Times - The Times Guild, Times Tech Guild and Wirecutter Union - will be protesting Times management’s anti-union tactics at an in-person rally outside the Times building in Manhattan on Nov.
All Rights Reserved.The Times announced in its latest quarterly earnings report that Wirecutter has added 10,000 paid subscribers, but if a deal isn’t reached, the Wirecutter Union will call on readers and subscribers not to shop through the site on Black Friday through Cyber Monday.
All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. In the five years since it launched, The Wirecutter grew to a staff of roughly 60 employees last year, it generated $150 million in e-commerce.
The sale provides yet more affirmation of Lam's business and the revenue model he helped pioneer. "And most important, we're thrilled to have the chance to help Times readers find great gear that can improve their lives." "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," Lam said in a statement. Lam will remain on board in an "advisory role," according to the Times. "This investment represents a strong step toward a further embrace" of affiliate revenue, Baquet - who said he'd "been a champion of this deal" added. "The affiliate arrangements have no influence on the recommendations-which are deeply and meticulously researched-and The Wirecutter is very transparent with its readers about how this model works," Baquet said. He also vouched for the editorial integrity of the The Wirecutter. In a statement, New York Times Company president and CEO Mark Thompson cited the "very attractive revenue model" as a driving force in the deal.ĭean Baquet, the executive editor of the Times, said in a memo that the acquisition represents "a strong step toward a further embrace" of the affiliate link model.
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