NEW YORK TIMES CO, 10-Q filed on 5/7/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2025
May 02, 2025
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 1-5837  
Entity Registrant Name THE NEW YORK TIMES COMPANY  
Entity Incorporation, State or Country Code NY  
Entity Tax Identification Number 13-1102020  
Entity Address, Address Line One 620 Eighth Avenue  
Entity Address, City or Town New York  
Entity Address, State or Province NY  
Entity Address, Postal Zip Code 10018  
City Area Code 212  
Local Phone Number 556-1234  
Title of 12(b) Security Class A Common Stock  
Trading Symbol NYT  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000071691  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Class A Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   162,269,110
Class B Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   780,724
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 182,597 $ 199,448
Short-term marketable securities 339,477 366,474
Accounts receivable (net of allowances of $11,612 as of March 31, 2025, and $12,118 as of December 31, 2024) 192,514 249,530
Prepaid expenses 49,868 49,869
Other current assets 37,118 71,001
Total current assets 801,574 936,322
Other assets    
Long-term marketable securities 380,249 345,946
Property, plant and equipment (less accumulated depreciation and amortization of $920,195 as of March 31, 2025, and $905,512 as of December 31, 2024) 482,729 488,816
Goodwill 414,795 412,173
Intangible assets, net 251,203 258,006
Deferred income taxes 123,038 111,397
Miscellaneous assets 281,477 288,819
Total assets 2,735,065 2,841,479
Current liabilities    
Accounts payable 121,628 123,606
Accrued payroll and other related liabilities 95,780 177,859
Unexpired subscriptions revenue 193,705 187,082
Accrued expenses and other 143,740 124,982
Total current liabilities 554,853 613,529
Other liabilities    
Pension and postretirement benefits obligation 215,478 214,641
Other 79,878 86,100
Total other liabilities 295,356 300,741
Common stock of $.10 par value:    
Additional paid-in capital 347,486 356,450
Retained earnings 2,345,027 2,325,142
Common stock held in treasury, at cost (465,628) (406,446)
Accumulated other comprehensive loss, net of income taxes:    
Foreign currency translation adjustments (928) (2,762)
Funded status of benefit plans (360,627) (363,874)
Net unrealized gain on available-for-sale securities 1,583 830
Total accumulated other comprehensive loss, net of income taxes (359,972) (365,806)
Total stockholders’ equity 1,884,856 1,927,209
Total liabilities and stockholders’ equity 2,735,065 2,841,479
Class A Common Stock    
Common stock of $.10 par value:    
Common stock value 17,865 17,791
Class B Common Stock    
Common stock of $.10 par value:    
Common stock value $ 78 $ 78
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Accounts receivable, allowance for credit loss $ 11,612 $ 12,118
Accumulated depreciation and amortization $ 920,195 $ 905,512
Common stock of $.10 par value:    
Common stock, par value (in usd per share) $ 0.10 $ 0.10
Class A Common Stock    
Common stock of $.10 par value:    
Authorized shares (in shares) 300,000,000 300,000,000
Issued shares (in shares) 178,621,043 177,883,703
Treasury shares (in shares) 16,076,198 14,896,012
Class B Common Stock    
Common stock of $.10 par value:    
Authorized shares (in shares) 780,724 780,724
Issued shares (in shares) 780,724 780,724
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues    
Total revenues $ 635,910 $ 594,015
Operating costs    
Cost of revenue (excluding depreciation and amortization) 334,637 316,867
Sales and marketing 65,959 65,134
Product development 66,539 63,185
General and administrative 79,913 78,815
Depreciation and amortization 21,378 20,706
Generative AI Litigation Costs 4,397 989
Multiemployer pension plan liability adjustment 4,453 0
Total operating costs 577,276 545,696
Operating profit 58,634 48,319
Other components of net periodic benefit costs (4,638) (1,051)
Interest income and other, net 9,972 8,387
Income before income taxes 63,968 55,655
Income tax expense 14,417 15,238
Net income $ 49,551 $ 40,417
Average number of common shares outstanding:    
Basic (in shares) 163,779 164,632
Diluted (in shares) 164,908 165,630
Basic earnings per share attributable to common stockholders (in usd per share) $ 0.30 $ 0.25
Diluted earnings per share attributable to common stockholders (in usd per share) 0.30 0.24
Dividends declared per share (in usd per share) $ 0.18 $ 0.13
Subscription    
Revenues    
Total revenues $ 464,257 $ 429,005
Advertising    
Revenues    
Total revenues 108,076 103,711
Affiliate, licensing and other    
Revenues    
Total revenues $ 63,577 $ 61,299
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 49,551 $ 40,417
Other comprehensive income, before tax:    
Gain/(loss) on foreign currency translation adjustments 2,488 (1,846)
Pension and postretirement benefits obligation 4,405 3,288
Net unrealized gain/(loss) on available-for-sale securities 1,021 (709)
Other comprehensive income, before tax 7,914 733
Income tax expense 2,080 230
Other comprehensive income, net of tax 5,834 503
Comprehensive income attributable to common stockholders $ 55,385 $ 40,920
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity
Capital Stock – Class A and Class B Common
Additional Paid-in Capital
Retained Earnings
Common Stock Held in Treasury, at Cost
Accumulated Other Comprehensive Loss, Net of Income Taxes
Balance, beginning of period at Dec. 31, 2023   $ 1,763,219 $ 17,775 $ 301,287 $ 2,117,839 $ (320,820) $ (352,862)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income $ 40,417 40,417     40,417    
Dividends   (21,719)     (21,719)    
Other comprehensive income   503         503
Issuance of stock-based awards, net of withholding taxes:              
Restricted stock units vested - Class A shares   (14,917) 47 (14,964)      
Performance-based awards - Class A shares   (2,688) 8 (2,696)      
Share repurchases - Class A shares   (32,709)       (32,709)  
Stock-based compensation   15,856   15,856      
Balance, end of period at Mar. 31, 2024   1,747,962 17,830 299,483 2,136,537 (353,529) (352,359)
Balance, beginning of period at Dec. 31, 2024 1,927,209 1,927,209 17,869 356,450 2,325,142 (406,446) (365,806)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 49,551 49,551     49,551    
Dividends   (29,666)     (29,666)    
Other comprehensive income 5,834 5,834         5,834
Issuance of stock-based awards, net of withholding taxes:              
Restricted stock units vested - Class A shares   (20,477) 59 (20,536)      
Performance-based awards - Class A shares   (5,766) 15 (5,781)      
Share repurchases - Class A shares   (59,182)       (59,182)  
Stock-based compensation   17,353   17,353      
Balance, end of period at Mar. 31, 2025 $ 1,884,856 $ 1,884,856 $ 17,943 $ 347,486 $ 2,345,027 $ (465,628) $ (359,972)
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]    
Restricted stock unit vested (in shares) 591,716 470,820
Performance-based awards (in shares) 145,624 85,703
Share repurchases (in shares) 1,180,186 703,468
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 49,551 $ 40,417
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,378 20,706
Amortization of right-of-use asset 2,329 2,221
Stock-based compensation expense 17,353 15,856
Multiemployer pension plan liability adjustment 4,453 0
Change in long-term retirement benefit obligations (2,472) (5,758)
Other – net 2,629 (1,026)
Changes in operating assets and liabilities:    
Accounts receivable – net 57,016 64,832
Other assets 32,079 2,360
Accounts payable, accrued payroll and other liabilities (92,257) (93,067)
Unexpired subscriptions 6,623 5,438
Other noncurrent assets and liabilities 406 1,100
Net cash provided by operating activities 99,088 53,079
Cash flows from investing activities    
Purchases of marketable securities (168,265) (112,892)
Maturities of marketable securities 161,931 52,374
Capital expenditures (9,237) (6,424)
Other – net 7,231 551
Net cash used in investing activities (8,340) (66,391)
Cash flows from financing activities    
Dividends paid (22,069) (18,621)
Capital shares:    
Repurchases (58,957) (32,458)
Share-based compensation tax withholding (26,243) (17,605)
Net cash used in financing activities (107,269) (68,684)
Net decrease in cash, cash equivalents and restricted cash (16,521) (81,996)
Effect of exchange rate changes on cash (178) (480)
Cash, cash equivalents and restricted cash at the beginning of the period 213,857 303,172
Cash, cash equivalents and restricted cash at the end of the period $ 197,158 $ 220,696
v3.25.1
BASIS OF PRESENTATION
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
In the opinion of management of The New York Times Company (the “Company”), the Condensed Consolidated Financial Statements present fairly the financial position of the Company as of March 31, 2025, and December 31, 2024, and the results of operations, changes in stockholders’ equity and cash flows of the Company for the quarters ended March 31, 2025, and March 31, 2024. The Company and its consolidated subsidiaries are referred to collectively as “we,” “us” or “our.” All adjustments necessary for a fair presentation have been included and are of a normal and recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The financial statements were prepared in accordance with the requirements of the United States Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted from these interim financial statements. These financial statements, therefore, should be read in conjunction with the Consolidated Financial Statements and related Notes included in our Annual Report on Form 10-K for the year ended December 31, 2024. Due to the seasonal nature of our business, operating results for the interim periods are not necessarily indicative of a full year’s operations. The first quarter of 2025 contains one fewer day compared with the first quarter of 2024 as a result of 2024 being a leap year.
The Company has two reportable segments: The New York Times Group (“NYTG”) and The Athletic.
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements. Actual results could differ from these estimates.
The Company has changed the revenue caption on its Condensed Consolidated Statement of Operations from Other to Affiliate, licensing and other effective for the quarter ended March 31, 2025.
v3.25.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
As of March 31, 2025, our significant accounting policies, which are detailed in our Annual Report on Form 10-K for the year ended December 31, 2024, have not changed.
Recently Issued Accounting Pronouncements
Accounting Standard UpdatesTopicEffective PeriodSummary
2023-09Income Taxes (Topic 740): Improvements to Income Tax DisclosuresFiscal years, beginning after December 15, 2024. Early adoption is permitted.Requires entities to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The Company plans to adopt this guidance in the fourth quarter of 2025 and does not expect a significant impact on its income tax disclosures.
2024-03
2025-01		Income Statement-
Reporting Comprehensive Income-Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses		Fiscal years, beginning after December 15, 2026, and for interim periods beginning after December 15, 2027. Early adoption is permitted.Requires entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. We are currently in the process of evaluating the impact of this guidance on the Company’s disclosures.
The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.
v3.25.1
REVENUE
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
We generate revenues principally from subscriptions and advertising.
Subscription revenues consist of revenues from subscriptions to our digital and print products (which include our news product, as well as The Athletic and our Audio, Cooking, Games and Wirecutter products), and single-copy and bulk sales of our print products. Subscription revenues are based on both the number of digital-only subscriptions and copies of the printed newspaper sold, and the rates charged to the respective customers.
Advertising revenue is primarily derived from advertisers (such as luxury goods, technology and financial companies) promoting products, services or brands on digital platforms in the form of display, audio, email and video ads; in print in the form of column-inch ads; and at live events. Advertising revenue is primarily determined by the volume (e.g., impressions or column inches), rate and mix of advertisements. As of the first quarter of 2025, we have updated our discussion of digital advertising revenue and no longer distinguish between “core” and “other” digital advertising. Digital advertising consists of display (which includes website and mobile applications), audio, email and video advertising revenue from advertisements that are sold either directly to marketers by our advertising sales teams or, currently for a smaller proportion, through programmatic auctions run by third-party ad exchanges. Digital advertising revenue also includes creative services fees. NYTG and The Athletic have revenue from all categories discussed above. Print advertising includes revenue from column-inch ads and classified advertising, as well as preprinted advertising, also known as freestanding inserts. There is no print advertising revenue generated from The Athletic, which does not have a print product.
Affiliate, licensing and other revenues include revenues from licensing, Wirecutter affiliate referrals, commercial printing, the leasing of floors in our New York headquarters building located at 620 Eighth Avenue, New York, New York (the “Company Headquarters”), retail commerce and our live events business.
Subscription, advertising and affiliate, licensing and other revenues were as follows:
For the Quarters Ended
(In thousands)March 31, 2025As % of totalMarch 31, 2024As % of total
Subscription$464,257 73.0 %$429,005 72.2 %
Advertising108,076 17.0 %103,711 17.5 %
Affiliate, licensing and other(1)
63,577 10.0 %61,299 10.3 %
Total$635,910 100.0 %$594,015 100.0 %
(1) Affiliate, licensing and other revenues include building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was $6.7 million for the first quarters of 2025 and 2024, respectively.
The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the quarters ended March 31, 2025, and March 31, 2024:
For the Quarters Ended
(In thousands)March 31, 2025As % of totalMarch 31, 2024As % of total
Digital-only subscription revenues(1)
$335,026 72.2 %$292,978 68.3 %
Print subscription revenues(2)
129,231 27.8 %136,027 31.7 %
Total subscription revenues$464,257 100.0 %$429,005 100.0 %
(1)Includes revenue from bundled and standalone subscriptions to our news product, as well as to The Athletic and our Audio, Cooking, Games and Wirecutter products.
(2)Includes domestic home-delivery subscriptions, which include access to our digital products. Also includes single-copy, NYT International and Other subscription revenues.
The following table summarizes digital and print advertising revenues, which are components of advertising revenues above, for the quarters ended March 31, 2025, and March 31, 2024:
For the Quarters Ended
(In thousands)March 31, 2025As % of totalMarch 31, 2024As % of total
Digital advertising revenues$70,866 65.6 %$63,026 60.8 %
Print advertising revenues37,210 34.4 %40,685 39.2 %
Total advertising$108,076 100.0 %$103,711 100.0 %
Performance Obligations
We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of March 31, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $129 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $72 million, $32 million and $25 million will be recognized in the remainder of 2025, 2026 and thereafter through 2030, respectively.
Unexpired Subscriptions
Payments for subscriptions are typically due upfront, and the revenue is recognized ratably over the subscription period. The proceeds are recorded within Unexpired subscriptions revenue in the Condensed Consolidated Balance Sheets. Total unexpired subscriptions as of December 31, 2024, were $187.1 million, of which approximately $118.0 million was recognized as revenues during the quarter ended March 31, 2025.
v3.25.1
MARKETABLE SECURITIES
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES
The Company accounts for its marketable securities as available for sale (“AFS”). The Company recorded $2.1 million and $1.1 million of pre-tax net unrealized gains in Accumulated other comprehensive income (“AOCI”) as of March 31, 2025, and December 31, 2024, respectively.
The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS securities as of March 31, 2025, and December 31, 2024:
March 31, 2025
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
Corporate debt securities$191,274 $571 $(15)$191,830 
U.S. Treasury securities141,026 246 (20)141,252 
Certificates of deposit4,400 — — 4,400 
U.S. governmental agency securities1,996 — (1)1,995 
Total short-term AFS securities$338,696 $817 $(36)$339,477 
Long-term AFS securities
U.S. Treasury securities$219,482 $932 $(65)$220,349 
Corporate debt securities159,414 595 (109)159,900 
Total long-term AFS securities$378,896 $1,527 $(174)$380,249 
December 31, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
Corporate debt securities$153,988 $415 $(28)$154,375 
U.S. Treasury securities203,238 511 (20)203,729 
Certificates of deposit4,400 — — 4,400 
U.S. governmental agency securities3,974 — (4)3,970 
Total short-term AFS securities$365,600 $926 $(52)$366,474 
Long-term AFS securities
U.S. Treasury securities$154,936 $258 $(261)$154,933 
Corporate debt securities190,772 544 (303)191,013 
Total long-term AFS securities$345,708 $802 $(564)$345,946 
The following tables represent the AFS securities as of March 31, 2025, and December 31, 2024, that were in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:
March 31, 2025
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
Corporate debt securities$22,896 $(15)$— $— $22,896 $(15)
U.S. Treasury securities22,708 (20)— — 22,708 (20)
U.S. governmental agency securities— — 1,995 (1)1,995 (1)
Total short-term AFS securities$45,604 $(35)$1,995 $(1)$47,599 $(36)
Long-term AFS securities
U.S. Treasury securities$26,667 $(65)$— $— $26,667 $(65)
Corporate debt securities41,517 (109)— — 41,517 (109)
Total long-term AFS securities$68,184 $(174)$— $— $68,184 $(174)
December 31, 2024
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
Corporate debt securities$28,741 $(28)$249 $— $28,990 $(28)
U.S. Treasury securities13,023 (18)1,297 (2)14,320 (20)
U.S. governmental agency securities— — 3,971 (4)3,971 (4)
Total short-term AFS securities$41,764 $(46)$5,517 $(6)$47,281 $(52)
Long-term AFS securities
U.S. Treasury securities$64,325 $(261)$— $— $64,325 $(261)
Corporate debt securities68,163 (303)— — 68,163 (303)
Total long-term AFS securities$132,488 $(564)$— $— $132,488 $(564)
We assess our AFS securities for impairment on a quarterly basis or more often if a potential loss-triggering event occurs.
As of March 31, 2025, and December 31, 2024, we did not intend to sell, and it was not likely that we would be required to sell, these investments before recovery of their amortized cost basis, which may be at maturity. Unrealized losses related to these investments are primarily due to interest rate fluctuations as opposed to changes in credit quality. Therefore, as of March 31, 2025, and December 31, 2024, we have recognized no impairment losses or allowance for credit losses related to AFS securities.
As of March 31, 2025, our short-term and long-term marketable securities had remaining maturities of less than one month to 12 months and 13 months to 27 months, respectively. See Note 8 for additional information regarding the fair value of our marketable securities.
v3.25.1
GOODWILL AND INTANGIBLES
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLES GOODWILL AND INTANGIBLES
The changes in the carrying amount of goodwill as of March 31, 2025, and since December 31, 2023, were as follows:
(In thousands)NYTGThe Athletic Total
Balance as of December 31, 2023$164,738 $251,360 $416,098 
Foreign currency translation(1)
(3,925)— (3,925)
Balance as of December 31, 2024160,813 251,360 412,173 
Foreign currency translation(1)
2,622 — 2,622 
Balance as of March 31, 2025$163,435 $251,360 $414,795 
(1)The foreign currency translation line item reflects changes in goodwill resulting from fluctuating exchange rates related to the consolidation of certain international subsidiaries.
The aggregate carrying amount of intangible assets of $251.2 million, which includes an indefinite-lived intangible of $2.5 million, is included in Intangible assets, net in our Condensed Consolidated Balance Sheets as of March 31, 2025. As of March 31, 2025, and December 31, 2024, the gross book value and accumulated amortization of the intangible assets with definite lives were as follows:
March 31, 2025
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(27,951)$134,667 17.1
Existing subscriber base136,500 (37,125)99,375 9.0
Developed technology38,401 (24,554)13,847 1.9
Content archive5,751 (4,914)837 1.3
Total finite-lived intangibles$343,270 $(94,544)$248,726 12.9
December 31, 2024
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(25,951)$136,667 17.3
Existing subscriber base136,500 (34,313)102,187 9.2
Developed technology38,401 (22,719)15,682 2.2
Content archive5,751 (4,758)993 1.6
Total finite-lived intangibles$343,270 $(87,741)$255,529 13.1
Amortization expense for intangible assets included in Depreciation and amortization in our Condensed Consolidated Statements of Operations was $6.8 million and $7.1 million for the first quarters of 2025 and 2024, respectively. The estimated aggregate amortization expense for the remainder of 2025 and each of the following fiscal years ending December 31 is presented below:
(In thousands)
Remainder of 2025$20,410 
202626,960 
202720,171 
202819,335 
202919,250 
Thereafter142,600 
Total amortization expense$248,726 
v3.25.1
INVESTMENTS
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
Non-Marketable Equity Securities
Our non-marketable equity securities are investments in privately held companies/funds without readily determinable market values. Gains and losses on non-marketable equity securities revalued, sold or impaired are recognized in Interest income and other, net in our Condensed Consolidated Statements of Operations.
As of March 31, 2025, and December 31, 2024, non-marketable equity securities included in Miscellaneous assets in our Condensed Consolidated Balance Sheets had a carrying value of $28.9 million and $29.5 million, respectively.
v3.25.1
OTHER
 3 Months Ended
Mar. 31, 2025
Other Income and Expenses [Abstract]  
OTHER OTHER
Capitalized Computer Software Costs
Amortization of capitalized computer software costs included in Depreciation and amortization in our Condensed Consolidated Statements of Operations was $1.9 million and $2.0 million for the first quarters of 2025 and 2024, respectively.
Interest Income and Other, Net
Interest income and other, net, as shown in the accompanying Condensed Consolidated Statements of Operations, was as follows:
For the Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Interest income$10,220 $8,638 
Interest expense(248)(251)
Total interest income and other, net$9,972 $8,387 
College Point Land Sale
On December 9, 2020, we entered into an agreement to lease and subsequently sell approximately four acres of excess land at our printing and distribution facility in College Point, N.Y. The transaction was accounted for as a sales-type lease and, as a result, we recognized a gain at the time of the lease commencement on April 11, 2022. On February 21, 2025, we finalized the sale and received net proceeds of approximately $33 million, which were recorded in Net cash provided by operating activities – Other assets in the Condensed Consolidated Statements of Cash Flows for the quarter ended March 31, 2025.
Restricted Cash
A reconciliation of cash, cash equivalents and restricted cash as of March 31, 2025, and March 31, 2024, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)March 31, 2025March 31, 2024
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$182,597 $206,817 
Restricted cash included within miscellaneous assets14,561 13,879 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$197,158 $220,696 
Substantially all of the amount included in restricted cash is set aside to collateralize workers’ compensation obligations.
Revolving Credit Facility
On July 27, 2022, the Company entered into an amendment and restatement of its previous credit facility that, among other changes, increased the committed amount to $350.0 million and extended the maturity date to July 27, 2027 (as amended and restated, the “Credit Facility”). Certain of the Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Facility. Borrowings under the Credit Facility bear interest at specified rates based on our utilization and consolidated leverage ratio. The Credit Facility contains various customary affirmative and negative covenants. In addition, the Company is obligated to pay a quarterly unused commitment fee at an annual rate of 0.20%.
As of March 31, 2025, and December 31, 2024, there were no borrowings and approximately $0.6 million in outstanding letters of credit, with the remaining committed amount available. As of March 31, 2025, the Company was in compliance with the financial covenants contained in the Credit Facility.
Severance Costs
We recognized $2.6 million and $4.4 million in severance costs for the first quarters of 2025 and 2024, respectively. These costs are recorded in General and administrative costs in our Condensed Consolidated Statements of Operations.
We had a severance liability of $6.1 million and $4.8 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of March 31, 2025, and December 31, 2024, respectively.
Generative AI Litigation Costs
In the first quarters of 2025 and 2024, the Company recorded $4.4 million and $1.0 million, respectively, of pre-tax litigation-related costs in connection with a lawsuit against Microsoft Corporation (“Microsoft”) and Open AI Inc. and various of its corporate affiliates (collectively, “OpenAI”), alleging unlawful and unauthorized copying and use of the Company’s journalism and other content in connection with their development of generative artificial intelligence products (“Generative AI Litigation Costs”). See Note 14 for additional information.
v3.25.1
FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Fair value is the price that would be received upon the sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. The transaction would be in the principal or most advantageous market for the asset or liability, based on assumptions that a market participant would use in pricing the asset or liability. The fair value hierarchy consists of three levels:
Level 1–quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;
Level 2–inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
Level 3–unobservable inputs for the asset or liability.
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2025, and December 31, 2024:
(In thousands)March 31, 2025December 31, 2024
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Short-term AFS securities(1)
Corporate debt securities$191,830 $— $191,830 $— $154,375 $— $154,375 $— 
U.S. Treasury securities141,252 — 141,252 — 203,729 — 203,729 — 
Certificates of deposit4,400 — 4,400 — 4,400 — 4,400 — 
U.S. governmental agency securities1,995 — 1,995 — 3,970 — 3,970 — 
Total short-term AFS securities$339,477 $— $339,477 $— $366,474 $— $366,474 $— 
Long-term AFS securities(1)
U.S. Treasury securities$220,349 $— $220,349 $— $154,933 $— $154,933 $— 
Corporate debt securities159,900 — 159,900 — 191,013 — 191,013 — 
Total long-term AFS securities$380,249 $— $380,249 $— $345,946 $— $345,946 $— 
Liabilities:
Deferred compensation(2)(3)
$9,827 $9,827 $— $— $13,230 $13,230 $— $— 
Contingent consideration$1,182 $— $— $1,182 $1,608 $— $— $1,608 
(1)We classified these investments as Level 2 since the fair value is based on market observable inputs for investments with similar terms and maturities.
(2)The deferred compensation liability, included in Other liabilities—other in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), a frozen plan that enabled certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015.
(3)The Company invests the assets associated with the deferred compensation liability in life insurance products. Our investments in life insurance products are included in Miscellaneous assets in our Condensed Consolidated Balance Sheets, and were $38.0 million as of March 31, 2025, and $45.0 million as of December 31, 2024. The fair value of these assets is measured using the net asset value per share (or its equivalent) and has not been classified in the fair value hierarchy.
Level 3 Liabilities
The contingent consideration liability is related to the 2020 acquisition of substantially all the assets and certain liabilities of Serial Productions, LLC and represents contingent payments based on the achievement of certain operational targets, as defined in the acquisition agreement, over the five years following the acquisition. The Company estimated the fair value using a probability-weighted discounted cash flow model. The estimate of the fair value of contingent consideration requires subjective assumptions to be made regarding probabilities assigned to operational targets and the discount rate. As the fair value is based on significant unobservable inputs, this is a Level 3 liability.
The following table presents changes in the contingent consideration balances for the quarters ended March 31, 2025, and March 31, 2024:
Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Balance at the beginning of the period
$1,608 $4,991 
Fair value adjustments(1)
(426)537 
Contingent consideration at the end of the period$1,182 $5,528 
(1)Fair value adjustments are included in General and administrative costs in our Condensed Consolidated Statements of Operations.
The remaining contingent consideration balances as of March 31, 2025, and December 31, 2024, of $1.2 million and $1.6 million, respectively, are included in Accrued expenses and other in our Condensed Consolidated Balance Sheets.
v3.25.1
PENSION AND OTHER POSTRETIREMENT BENEFITS
 3 Months Ended
Mar. 31, 2025
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS PENSION AND OTHER POSTRETIREMENT BENEFITS
Pension
Single-Employer Plans
We maintain The New York Times Companies Pension Plan, a frozen single-employer defined benefit pension plan. The Company also jointly sponsors a defined benefit plan with The NewsGuild of New York known as the Guild-Times Adjustable Pension Plan (the “APP”) that continues to accrue active benefits.
We also have a foreign-based pension plan for certain employees (the “foreign plan”). The information for the foreign plan is combined with the information for U.S. non-qualified plans. The benefit obligation of the foreign plan is immaterial to our total benefit obligation.
The components of net periodic pension cost/(income) were as follows:
For the Quarters Ended
 March 31, 2025March 31, 2024
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans
Service cost$1,661 $— $1,661 $1,541 $— $1,541 
Interest cost 13,217 2,077 15,294 13,376 2,207 15,583 
Expected return on plan assets (15,282)— (15,282)(18,109)— (18,109)
Amortization of actuarial loss 4,026 865 4,891 2,603 997 3,600 
Amortization of prior service credit (486)— (486)(486)— (486)
Net periodic pension cost/(income)$3,136 $2,942 $6,078 $(1,075)$3,204 $2,129 
During the first quarters of 2025 and 2024, we made pension contributions of $2.9 million and $3.4 million, respectively, to the APP. We expect contributions made to satisfy the greater of minimum funding or collective bargaining agreement requirements to total approximately $13 million in 2025.
Multiemployer Plans
During the first quarter of 2025, the Company recorded a $4.5 million charge related to a multiemployer pension plan liability adjustment. This adjustment is recorded in Multiemployer pension plan liability adjustment in our Condensed Consolidated Statements of Operations.
Other Postretirement Benefits
The components of net periodic postretirement benefit cost were as follows:
For the Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Service cost$3 $4 
Interest cost 204 272 
Amortization of actuarial loss — 174 
Net periodic postretirement benefit cost$207 $450 
v3.25.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company had income tax expense of $14.4 million and $15.2 million in the first quarters of 2025 and 2024, respectively. The Company’s effective tax rates were 22.5% and 27.4% for the first quarters of 2025 and 2024, respectively. The decrease in income tax expense in the first quarter of 2025 was due to a tax benefit in 2025 from stock appreciation on stock-based awards that settled in the quarter, partially offset by an increase in pre-tax income. The decrease in the effective income tax rate compared to the first quarter of 2024 was primarily attributable to a tax benefit from stock-based awards that settled in the first quarter of 2025.
The Organization for Economic Co-operation and Development enacted model rules for a new global minimum tax framework, also known as Pillar Two, and certain governments globally have enacted these rules effective January 1, 2024. The Company continues to assess the potential impacts of Pillar Two and does not expect it to have a material effect on the Company’s financial statements.
v3.25.1
EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
We compute earnings per share based upon the treasury stock method. Earnings per share is computed using both basic shares and diluted shares. The difference between basic and diluted shares is that diluted shares include the dilutive effect of the assumed exercise or vesting of outstanding securities. Our stock-settled long-term performance awards, restricted stock units and Employee Stock Purchase Plan (“ESPP”) could impact the diluted shares. The difference between basic and diluted shares was approximately 1.1 million and 1.0 million in the first quarters of 2025 and 2024, respectively, and resulted from the dilutive effect of our stock-based awards.
Securities that could potentially be dilutive are excluded from the computation of diluted earnings per share when a loss from continuing operations exists or when the exercise price exceeds the market value of our Class A Common Stock because their inclusion would result in an anti-dilutive effect on per share amounts.
There were no anti-dilutive stock-settled long-term performance awards, restricted stock units or shares estimated to be purchased under the ESPP excluded from the computation of diluted earnings per share in the first quarters of 2025 and 2024.
v3.25.1
SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
SUPPLEMENTAL STOCKHOLDERS' EQUITY INFORMATION SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION
Share Repurchases
The Board of Directors approved Class A share repurchase programs in February 2022 ($150.0 million) and February 2023 ($250.0 million). In February 2025, in addition to the remaining authorizations, the Board of Directors approved a $350.0 million Class A share repurchase program. The authorizations provide that shares of Class A Common Stock may be purchased from time to time as market conditions warrant, through open-market purchases, privately negotiated transactions or other means, including Rule 10b5-1 trading plans. We expect to repurchase shares to offset the impact of dilution from our equity compensation program and to return capital to our stockholders. There is no expiration date with respect to these authorizations.
As of March 31, 2025, repurchases under these authorizations totaled approximately $293.5 million (excluding commissions and excise taxes), leaving approximately $456.5 million remaining under the 2023 and 2025 authorizations. During the first quarter ended March 31, 2025, repurchases under these authorizations totaled approximately $58.9 million.
Accumulated Other Comprehensive Income
The following table summarizes the changes in AOCI by component as of March 31, 2025:
(In thousands)Foreign Currency Translation AdjustmentsFunded Status of Benefit PlansNet Unrealized Gain/(Loss) on Available-For-Sale SecuritiesTotal Accumulated Other Comprehensive Loss
Balance as of December 31, 2024$(2,762)$(363,874)$830 $(365,806)
Other comprehensive income before reclassifications, before tax2,488 — 1,021 3,509 
Amounts reclassified from accumulated other comprehensive loss, before tax— 4,405 — 4,405 
Income tax expense654 1,158 268 2,080 
Net current-period other comprehensive income, net of tax1,834 3,247 753 5,834 
Balance as of March 31, 2025$(928)$(360,627)$1,583 $(359,972)
The following table summarizes the reclassifications from AOCI for the quarter ended March 31, 2025:
(In thousands)

Detail about accumulated other comprehensive loss components
Amounts
reclassified from
accumulated other
comprehensive loss		Affects line item in the statement
where net income is presented
Funded status of benefit plans:
Amortization of prior service credit(1)
$(486)Other components of net periodic benefit costs
Amortization of actuarial loss(1)
4,891 Other components of net periodic benefit costs
Total reclassification, before tax4,405 
Income tax expense1,158 Income tax expense
Total reclassification, net of tax$3,247 
(1)These AOCI components are included in the computation of net periodic benefit cost/(income) for pension benefits. See Note 9 for more information.
Stock-based Compensation Expense
Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations is as follows:
For the Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Cost of revenue$4,291 $3,954 
Sales and marketing578 392 
Product development6,617 6,235 
General and administrative5,867 5,275 
Total stock-based compensation expense$17,353 $15,856 
v3.25.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company identifies a business as an operating segment if (i) it engages in business activities from which it may earn revenues and incur expenses; (ii) its operating results are regularly reviewed by the Company’s President and Chief Executive Officer (who is the Company’s Chief Operating Decision Maker (“CODM”)) to make decisions about resources to be allocated to the segment and assess its performance; and (iii) it has available discrete financial information.
The Company has two reportable segments: NYTG and The Athletic. These segments are evaluated regularly by the Company’s CODM in assessing performance and allocating resources. Management uses adjusted operating profit (loss) by segment in assessing performance and allocating resources. The Company’s CODM uses adjusted operating profit (loss) by segment to allocate resources during the annual budgeting and forecasting process and to assess the performance of each segment. Adjusted operating profit is defined as operating profit before depreciation and amortization, severance, multiemployer pension plan withdrawal costs and special items. Adjusted operating profit for NYTG and The Athletic is presented below, along with a reconciliation to consolidated income before taxes. Asset information by segment is not a measure of performance used by the Company’s CODM. Accordingly, we have not disclosed asset information by segment.
Subscription revenues from and expenses associated with our digital subscription package (or “bundle”) are allocated to NYTG and The Athletic.
We allocate 10% of all bundle subscription revenues to The Athletic based on management’s view of The Athletic’s relative value to the bundle, which we derived based on analysis of various metrics, and allocate the remaining bundle revenues to NYTG.
We allocate 10% of product development, marketing and subscriber servicing expenses (including direct variable expenses such as credit card fees, third-party fees and sales taxes) associated with the bundle to The Athletic, and the remaining costs are allocated to NYTG, in each case, in line with the revenues allocations.
The following tables present segment information:
For the Quarter Ended March 31, 2025
(In thousands)NYTGThe Athletic
I/E(1)
Total
Revenues
Subscription$431,520 $32,737 $— $464,257 
Advertising97,658 10,418 — 108,076 
Affiliate, licensing and other59,735 4,405 (563)63,577 
Total revenues$588,913 $47,560 $(563)$635,910 
Less:
Cost of revenue (excluding depreciation and amortization)$307,260 $27,940 $(563)$334,637 
Sales and marketing59,982 5,977 — 65,959 
Product development57,249 9,290 — 66,539 
Adjusted general and administrative(2)
74,600 1,477 — 76,077 
Total adjusted operating profit$89,822 $2,876 $— $92,698 
Less:
Other components of net periodic benefit costs4,638 
Depreciation and amortization21,378 
Severance2,607 
Multiemployer pension plan withdrawal costs1,229 
Generative AI Litigation Costs4,397 
Multiemployer pension plan liability adjustment4,453 
Add:
Interest income and other, net9,972 
Income before income taxes$63,968 
(1)Intersegment eliminations (“I/E”) related to content licensing recorded in Affiliate, licensing and other revenues and Cost of revenue (excluding depreciation and amortization).
(2)Excludes severance and multiemployer pension plan withdrawal costs.
For the Quarter Ended March 31, 2024
(In thousands)NYTGThe Athletic
I/E(1)
Total
Revenues
Subscription$401,370 $27,635 $— $429,005 
Advertising98,004 5,707 — 103,711 
Affiliate, licensing and other58,020 3,842 (563)61,299 
Total revenues$557,394 $37,184 $(563)$594,015 
Less:
Cost of revenue (excluding depreciation and amortization)$292,457 $24,973 $(563)$316,867 
Sales and marketing55,481 9,653 — 65,134 
Product development54,865 8,320 — 63,185 
Adjusted general and administrative(2)
69,847 2,928 — 72,775 
Total adjusted operating profit (loss)$84,744 $(8,690)$— $76,054 
Less:
Other components of net periodic benefit costs1,051 
Depreciation and amortization20,706 
Severance4,428 
Multiemployer pension plan withdrawal costs1,612 
Generative AI Litigation Costs989 
Add:
Interest income and other, net8,387 
Income before income taxes$55,655 
(1)Intersegment eliminations (“I/E”) related to content licensing recorded in Affiliate, licensing and other revenues and Cost of revenue (excluding depreciation and amortization).
(2)Excludes severance and multiemployer pension plan withdrawal costs.
v3.25.1
CONTINGENCIES
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
CONTINGENCIES CONTINGENCIES
Legal Proceedings
We are involved in various legal actions incidental to our business that are now pending against us. These actions generally assert damages claims that are greatly in excess of the amount, if any, that we would be liable to pay if we lost or settled the cases. We record a liability for legal claims when a loss is probable and the amount can be reasonably estimated. Although the Company cannot predict the outcome of these matters, no amount of loss in excess of recorded amounts as of March 31, 2025, is believed to be reasonably possible.
On December 27, 2023, we filed a lawsuit against Microsoft and OpenAI in the United States District Court for the Southern District of New York (“SDNY”), alleging copyright infringement, unfair competition, trademark dilution and violations of the Digital Millennium Copyright Act (“DMCA”), related to their unlawful and unauthorized copying and use of our journalism and other content. We are seeking monetary relief, injunctive relief preventing Microsoft and OpenAI from continuing their unlawful, unfair and infringing conduct and other relief. On February 26, 2024, and March 4, 2024, respectively, OpenAI and Microsoft filed partial motions to dismiss, seeking dismissal of the unfair competition, contributory copyright infringement and DMCA claims. OpenAI also sought dismissal of a portion of the direct copyright infringement claim as time-barred. On March 26, 2025, the court dismissed our unfair competition claim and DMCA claims, with leave to replead the latter, but permitted our other disputed claims to go forward. On April 3, 2025, the Judicial Panel for Multidistrict Litigation consolidated our case with 11 others pending against OpenAI before our assigned judge in the SDNY. We intend to vigorously pursue all of our legal remedies in this litigation, but there is no guarantee that we will be successful in our efforts.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net income $ 49,551 $ 40,417
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
Accounting Standard UpdatesTopicEffective PeriodSummary
2023-09Income Taxes (Topic 740): Improvements to Income Tax DisclosuresFiscal years, beginning after December 15, 2024. Early adoption is permitted.Requires entities to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The Company plans to adopt this guidance in the fourth quarter of 2025 and does not expect a significant impact on its income tax disclosures.
2024-03
2025-01		Income Statement-
Reporting Comprehensive Income-Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses		Fiscal years, beginning after December 15, 2026, and for interim periods beginning after December 15, 2027. Early adoption is permitted.Requires entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. We are currently in the process of evaluating the impact of this guidance on the Company’s disclosures.
The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.
v3.25.1
REVENUE (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Subscription, advertising and affiliate, licensing and other revenues were as follows:
For the Quarters Ended
(In thousands)March 31, 2025As % of totalMarch 31, 2024As % of total
Subscription$464,257 73.0 %$429,005 72.2 %
Advertising108,076 17.0 %103,711 17.5 %
Affiliate, licensing and other(1)
63,577 10.0 %61,299 10.3 %
Total$635,910 100.0 %$594,015 100.0 %
(1) Affiliate, licensing and other revenues include building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was $6.7 million for the first quarters of 2025 and 2024, respectively.
The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the quarters ended March 31, 2025, and March 31, 2024:
For the Quarters Ended
(In thousands)March 31, 2025As % of totalMarch 31, 2024As % of total
Digital-only subscription revenues(1)
$335,026 72.2 %$292,978 68.3 %
Print subscription revenues(2)
129,231 27.8 %136,027 31.7 %
Total subscription revenues$464,257 100.0 %$429,005 100.0 %
(1)Includes revenue from bundled and standalone subscriptions to our news product, as well as to The Athletic and our Audio, Cooking, Games and Wirecutter products.
(2)Includes domestic home-delivery subscriptions, which include access to our digital products. Also includes single-copy, NYT International and Other subscription revenues.
The following table summarizes digital and print advertising revenues, which are components of advertising revenues above, for the quarters ended March 31, 2025, and March 31, 2024:
For the Quarters Ended
(In thousands)March 31, 2025As % of totalMarch 31, 2024As % of total
Digital advertising revenues$70,866 65.6 %$63,026 60.8 %
Print advertising revenues37,210 34.4 %40,685 39.2 %
Total advertising$108,076 100.0 %$103,711 100.0 %
v3.25.1
MARKETABLE SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Market Value of AFS Securities
The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS securities as of March 31, 2025, and December 31, 2024:
March 31, 2025
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
Corporate debt securities$191,274 $571 $(15)$191,830 
U.S. Treasury securities141,026 246 (20)141,252 
Certificates of deposit4,400 — — 4,400 
U.S. governmental agency securities1,996 — (1)1,995 
Total short-term AFS securities$338,696 $817 $(36)$339,477 
Long-term AFS securities
U.S. Treasury securities$219,482 $932 $(65)$220,349 
Corporate debt securities159,414 595 (109)159,900 
Total long-term AFS securities$378,896 $1,527 $(174)$380,249 
December 31, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
Corporate debt securities$153,988 $415 $(28)$154,375 
U.S. Treasury securities203,238 511 (20)203,729 
Certificates of deposit4,400 — — 4,400 
U.S. governmental agency securities3,974 — (4)3,970 
Total short-term AFS securities$365,600 $926 $(52)$366,474 
Long-term AFS securities
U.S. Treasury securities$154,936 $258 $(261)$154,933 
Corporate debt securities190,772 544 (303)191,013 
Total long-term AFS securities$345,708 $802 $(564)$345,946 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables represent the AFS securities as of March 31, 2025, and December 31, 2024, that were in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:
March 31, 2025
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
Corporate debt securities$22,896 $(15)$— $— $22,896 $(15)
U.S. Treasury securities22,708 (20)— — 22,708 (20)
U.S. governmental agency securities— — 1,995 (1)1,995 (1)
Total short-term AFS securities$45,604 $(35)$1,995 $(1)$47,599 $(36)
Long-term AFS securities
U.S. Treasury securities$26,667 $(65)$— $— $26,667 $(65)
Corporate debt securities41,517 (109)— — 41,517 (109)
Total long-term AFS securities$68,184 $(174)$— $— $68,184 $(174)
December 31, 2024
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
Corporate debt securities$28,741 $(28)$249 $— $28,990 $(28)
U.S. Treasury securities13,023 (18)1,297 (2)14,320 (20)
U.S. governmental agency securities— — 3,971 (4)3,971 (4)
Total short-term AFS securities$41,764 $(46)$5,517 $(6)$47,281 $(52)
Long-term AFS securities
U.S. Treasury securities$64,325 $(261)$— $— $64,325 $(261)
Corporate debt securities68,163 (303)— — 68,163 (303)
Total long-term AFS securities$132,488 $(564)$— $— $132,488 $(564)
v3.25.1
GOODWILL AND INTANGIBLES (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill Balances
The changes in the carrying amount of goodwill as of March 31, 2025, and since December 31, 2023, were as follows:
(In thousands)NYTGThe Athletic Total
Balance as of December 31, 2023$164,738 $251,360 $416,098 
Foreign currency translation(1)
(3,925)— (3,925)
Balance as of December 31, 2024160,813 251,360 412,173 
Foreign currency translation(1)
2,622 — 2,622 
Balance as of March 31, 2025$163,435 $251,360 $414,795 
(1)The foreign currency translation line item reflects changes in goodwill resulting from fluctuating exchange rates related to the consolidation of certain international subsidiaries.
Schedule of Finite-Lived Intangible Assets As of March 31, 2025, and December 31, 2024, the gross book value and accumulated amortization of the intangible assets with definite lives were as follows:
March 31, 2025
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(27,951)$134,667 17.1
Existing subscriber base136,500 (37,125)99,375 9.0
Developed technology38,401 (24,554)13,847 1.9
Content archive5,751 (4,914)837 1.3
Total finite-lived intangibles$343,270 $(94,544)$248,726 12.9
December 31, 2024
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(25,951)$136,667 17.3
Existing subscriber base136,500 (34,313)102,187 9.2
Developed technology38,401 (22,719)15,682 2.2
Content archive5,751 (4,758)993 1.6
Total finite-lived intangibles$343,270 $(87,741)$255,529 13.1
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense The estimated aggregate amortization expense for the remainder of 2025 and each of the following fiscal years ending December 31 is presented below:
(In thousands)
Remainder of 2025$20,410 
202626,960 
202720,171 
202819,335 
202919,250 
Thereafter142,600 
Total amortization expense$248,726 
v3.25.1
OTHER (Tables)
 3 Months Ended
Mar. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Interest Income and Other, Net
Interest income and other, net, as shown in the accompanying Condensed Consolidated Statements of Operations, was as follows:
For the Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Interest income$10,220 $8,638 
Interest expense(248)(251)
Total interest income and other, net$9,972 $8,387 
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash
A reconciliation of cash, cash equivalents and restricted cash as of March 31, 2025, and March 31, 2024, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)March 31, 2025March 31, 2024
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$182,597 $206,817 
Restricted cash included within miscellaneous assets14,561 13,879 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$197,158 $220,696 
Schedule of Restrictions on Cash and Cash Equivalents
A reconciliation of cash, cash equivalents and restricted cash as of March 31, 2025, and March 31, 2024, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)March 31, 2025March 31, 2024
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$182,597 $206,817 
Restricted cash included within miscellaneous assets14,561 13,879 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$197,158 $220,696 
v3.25.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2025, and December 31, 2024:
(In thousands)March 31, 2025December 31, 2024
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Short-term AFS securities(1)
Corporate debt securities$191,830 $— $191,830 $— $154,375 $— $154,375 $— 
U.S. Treasury securities141,252 — 141,252 — 203,729 — 203,729 — 
Certificates of deposit4,400 — 4,400 — 4,400 — 4,400 — 
U.S. governmental agency securities1,995 — 1,995 — 3,970 — 3,970 — 
Total short-term AFS securities$339,477 $— $339,477 $— $366,474 $— $366,474 $— 
Long-term AFS securities(1)
U.S. Treasury securities$220,349 $— $220,349 $— $154,933 $— $154,933 $— 
Corporate debt securities159,900 — 159,900 — 191,013 — 191,013 — 
Total long-term AFS securities$380,249 $— $380,249 $— $345,946 $— $345,946 $— 
Liabilities:
Deferred compensation(2)(3)
$9,827 $9,827 $— $— $13,230 $13,230 $— $— 
Contingent consideration$1,182 $— $— $1,182 $1,608 $— $— $1,608 
(1)We classified these investments as Level 2 since the fair value is based on market observable inputs for investments with similar terms and maturities.
(2)The deferred compensation liability, included in Other liabilities—other in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), a frozen plan that enabled certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015.
(3)The Company invests the assets associated with the deferred compensation liability in life insurance products. Our investments in life insurance products are included in Miscellaneous assets in our Condensed Consolidated Balance Sheets, and were $38.0 million as of March 31, 2025, and $45.0 million as of December 31, 2024. The fair value of these assets is measured using the net asset value per share (or its equivalent) and has not been classified in the fair value hierarchy.
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents changes in the contingent consideration balances for the quarters ended March 31, 2025, and March 31, 2024:
Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Balance at the beginning of the period
$1,608 $4,991 
Fair value adjustments(1)
(426)537 
Contingent consideration at the end of the period$1,182 $5,528 
(1)Fair value adjustments are included in General and administrative costs in our Condensed Consolidated Statements of Operations.
v3.25.1
PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)
 3 Months Ended
Mar. 31, 2025
Pension Plan  
Pension Benefits  
Schedule of Components of Net Periodic Pension Cost/(Income) and Postretirement Benefit Cost
The components of net periodic pension cost/(income) were as follows:
For the Quarters Ended
 March 31, 2025March 31, 2024
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans
Service cost$1,661 $— $1,661 $1,541 $— $1,541 
Interest cost 13,217 2,077 15,294 13,376 2,207 15,583 
Expected return on plan assets (15,282)— (15,282)(18,109)— (18,109)
Amortization of actuarial loss 4,026 865 4,891 2,603 997 3,600 
Amortization of prior service credit (486)— (486)(486)— (486)
Net periodic pension cost/(income)$3,136 $2,942 $6,078 $(1,075)$3,204 $2,129 
Other Postretirement Benefit Plan  
Pension Benefits  
Schedule of Components of Net Periodic Pension Cost/(Income) and Postretirement Benefit Cost
The components of net periodic postretirement benefit cost were as follows:
For the Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Service cost$3 $4 
Interest cost 204 272 
Amortization of actuarial loss — 174 
Net periodic postretirement benefit cost$207 $450 
v3.25.1
SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Loss
The following table summarizes the changes in AOCI by component as of March 31, 2025:
(In thousands)Foreign Currency Translation AdjustmentsFunded Status of Benefit PlansNet Unrealized Gain/(Loss) on Available-For-Sale SecuritiesTotal Accumulated Other Comprehensive Loss
Balance as of December 31, 2024$(2,762)$(363,874)$830 $(365,806)
Other comprehensive income before reclassifications, before tax2,488 — 1,021 3,509 
Amounts reclassified from accumulated other comprehensive loss, before tax— 4,405 — 4,405 
Income tax expense654 1,158 268 2,080 
Net current-period other comprehensive income, net of tax1,834 3,247 753 5,834 
Balance as of March 31, 2025$(928)$(360,627)$1,583 $(359,972)
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The following table summarizes the reclassifications from AOCI for the quarter ended March 31, 2025:
(In thousands)

Detail about accumulated other comprehensive loss components
Amounts
reclassified from
accumulated other
comprehensive loss		Affects line item in the statement
where net income is presented
Funded status of benefit plans:
Amortization of prior service credit(1)
$(486)Other components of net periodic benefit costs
Amortization of actuarial loss(1)
4,891 Other components of net periodic benefit costs
Total reclassification, before tax4,405 
Income tax expense1,158 Income tax expense
Total reclassification, net of tax$3,247 
(1)These AOCI components are included in the computation of net periodic benefit cost/(income) for pension benefits. See Note 9 for more information.
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount
Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations is as follows:
For the Quarters Ended
(In thousands)March 31, 2025March 31, 2024
Cost of revenue$4,291 $3,954 
Sales and marketing578 392 
Product development6,617 6,235 
General and administrative5,867 5,275 
Total stock-based compensation expense$17,353 $15,856 
v3.25.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information:
For the Quarter Ended March 31, 2025
(In thousands)NYTGThe Athletic
I/E(1)
Total
Revenues
Subscription$431,520 $32,737 $— $464,257 
Advertising97,658 10,418 — 108,076 
Affiliate, licensing and other59,735 4,405 (563)63,577 
Total revenues$588,913 $47,560 $(563)$635,910 
Less:
Cost of revenue (excluding depreciation and amortization)$307,260 $27,940 $(563)$334,637 
Sales and marketing59,982 5,977 — 65,959 
Product development57,249 9,290 — 66,539 
Adjusted general and administrative(2)
74,600 1,477 — 76,077 
Total adjusted operating profit$89,822 $2,876 $— $92,698 
Less:
Other components of net periodic benefit costs4,638 
Depreciation and amortization21,378 
Severance2,607 
Multiemployer pension plan withdrawal costs1,229 
Generative AI Litigation Costs4,397 
Multiemployer pension plan liability adjustment4,453 
Add:
Interest income and other, net9,972 
Income before income taxes$63,968 
(1)Intersegment eliminations (“I/E”) related to content licensing recorded in Affiliate, licensing and other revenues and Cost of revenue (excluding depreciation and amortization).
(2)Excludes severance and multiemployer pension plan withdrawal costs.
For the Quarter Ended March 31, 2024
(In thousands)NYTGThe Athletic
I/E(1)
Total
Revenues
Subscription$401,370 $27,635 $— $429,005 
Advertising98,004 5,707 — 103,711 
Affiliate, licensing and other58,020 3,842 (563)61,299 
Total revenues$557,394 $37,184 $(563)$594,015 
Less:
Cost of revenue (excluding depreciation and amortization)$292,457 $24,973 $(563)$316,867 
Sales and marketing55,481 9,653 — 65,134 
Product development54,865 8,320 — 63,185 
Adjusted general and administrative(2)
69,847 2,928 — 72,775 
Total adjusted operating profit (loss)$84,744 $(8,690)$— $76,054 
Less:
Other components of net periodic benefit costs1,051 
Depreciation and amortization20,706 
Severance4,428 
Multiemployer pension plan withdrawal costs1,612 
Generative AI Litigation Costs989 
Add:
Interest income and other, net8,387 
Income before income taxes$55,655 
(1)Intersegment eliminations (“I/E”) related to content licensing recorded in Affiliate, licensing and other revenues and Cost of revenue (excluding depreciation and amortization).
(2)Excludes severance and multiemployer pension plan withdrawal costs.
v3.25.1
BASIS OF PRESENTATION (Details)
 3 Months Ended
Mar. 31, 2025
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of reportable segments 2
v3.25.1
REVENUE - Subscription, Advertising, and Other Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Total revenues $ 635,910 $ 594,015
Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 100.00% 100.00%
Subscription    
Disaggregation of Revenue [Line Items]    
Total revenues $ 464,257 $ 429,005
Subscription | Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 73.00% 72.20%
Advertising    
Disaggregation of Revenue [Line Items]    
Total revenues $ 108,076 $ 103,711
Advertising | Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 17.00% 17.50%
Affiliate, licensing and other    
Disaggregation of Revenue [Line Items]    
Total revenues $ 63,577 $ 61,299
Affiliate, licensing and other | Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 10.00% 10.30%
Real Estate    
Disaggregation of Revenue [Line Items]    
Revenue not from contract with customer $ 6,700 $ 6,700
v3.25.1
REVENUE - Digital-only Subscription Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Total revenues $ 635,910 $ 594,015
Subscription    
Disaggregation of Revenue [Line Items]    
Total revenues $ 464,257 $ 429,005
Subscription | Subscription revenue benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 100.00% 100.00%
Subscription | Digital advertising revenues    
Disaggregation of Revenue [Line Items]    
Total revenues $ 335,026 $ 292,978
Subscription | Digital advertising revenues | Subscription revenue benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 72.20% 68.30%
Subscription | Print advertising revenues    
Disaggregation of Revenue [Line Items]    
Total revenues $ 129,231 $ 136,027
Subscription | Print advertising revenues | Subscription revenue benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 27.80% 31.70%
v3.25.1
REVENUE - Advertising Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Total advertising revenues $ 635,910 $ 594,015
Advertising    
Disaggregation of Revenue [Line Items]    
Total advertising revenues $ 108,076 $ 103,711
Advertising | Advertising benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 100.00% 100.00%
Digital advertising revenues | Advertising    
Disaggregation of Revenue [Line Items]    
Total advertising revenues $ 70,866 $ 63,026
Digital advertising revenues | Advertising | Advertising benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 65.60% 60.80%
Print advertising revenues | Advertising    
Disaggregation of Revenue [Line Items]    
Total advertising revenues $ 37,210 $ 40,685
Print advertising revenues | Advertising | Advertising benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 34.40% 39.20%
v3.25.1
REVENUE - Performance Obligations (Details)
$ in Millions
Mar. 31, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 129
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 72
Remaining performance obligation, period 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 32
Remaining performance obligation, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 25
Remaining performance obligation, period 4 years
v3.25.1
REVENUE - Unexpired Subscriptions (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Unexpired subscriptions revenue $ 193,705 $ 187,082
Revenue recognized $ 118,000  
v3.25.1
MARKETABLE SECURITIES - Narrative (Details) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Line of Credit Facility [Line Items]    
Pre-tax net unrealized gains (losses) in AOCI $ 2,100,000 $ 1,100,000
OTTI loss recognized $ 0 $ 0
Short-term Marketable Securities | Minimum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 1 month  
Short-term Marketable Securities | Maximum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 12 months  
Long-term Marketable Securities | Minimum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 13 months  
Long-term Marketable Securities | Maximum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 27 months  
v3.25.1
MARKETABLE SECURITIES - Available for Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Short-term AFS securities    
Amortized cost, short-term AFS securities $ 338,696 $ 365,600
Gross unrealized gains, short-term AFS securities 817 926
Gross unrealized losses, short-term AFS securities (36) (52)
Fair value, short-term AFS securities 339,477 366,474
Long-term AFS securities    
Amortized cost, long-term AFS securities 378,896 345,708
Gross unrealized gains, long-term AFS securities 1,527 802
Gross unrealized losses, long-term AFS securities (174) (564)
Fair value, long-term AFS securities 380,249 345,946
Corporate debt securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 191,274 153,988
Gross unrealized gains, short-term AFS securities 571 415
Gross unrealized losses, short-term AFS securities (15) (28)
Fair value, short-term AFS securities 191,830 154,375
Long-term AFS securities    
Amortized cost, long-term AFS securities 159,414 190,772
Gross unrealized gains, long-term AFS securities 595 544
Gross unrealized losses, long-term AFS securities (109) (303)
Fair value, long-term AFS securities 159,900 191,013
U.S. Treasury securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 141,026 203,238
Gross unrealized gains, short-term AFS securities 246 511
Gross unrealized losses, short-term AFS securities (20) (20)
Fair value, short-term AFS securities 141,252 203,729
Long-term AFS securities    
Amortized cost, long-term AFS securities 219,482 154,936
Gross unrealized gains, long-term AFS securities 932 258
Gross unrealized losses, long-term AFS securities (65) (261)
Fair value, long-term AFS securities 220,349 154,933
Certificates of deposit    
Short-term AFS securities    
Amortized cost, short-term AFS securities 4,400 4,400
Gross unrealized gains, short-term AFS securities 0 0
Gross unrealized losses, short-term AFS securities 0 0
Fair value, short-term AFS securities 4,400 4,400
U.S. governmental agency securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 1,996 3,974
Gross unrealized gains, short-term AFS securities 0 0
Gross unrealized losses, short-term AFS securities (1) (4)
Fair value, short-term AFS securities $ 1,995 $ 3,970
v3.25.1
MARKETABLE SECURITIES - Available-for-sale Securities - Continuous Loss Position (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Corporate debt securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities $ 22,896 $ 28,741
Gross unrealized losses, less than 12 months, short-term AFS securities (15) (28)
Fair value, 12 months or greater, short-term AFS securities 0 249
Gross unrealized losses, 12 months or greater, short-term AFS securities 0 0
Fair value, short-term AFS securities 22,896 28,990
Gross unrealized losses, short-term AFS securities (15) (28)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 41,517 68,163
Gross unrealized losses, less than 12 months, long-term AFS securities (109) (303)
Fair value, 12 months or greater, long-term AFS securities 0 0
Gross unrealized losses, 12 months or greater, long-term AFS securities 0 0
Fair value, long-term AFS securities 41,517 68,163
Gross unrealized losses, long-term AFS securities (109) (303)
U.S. Treasury securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 22,708 13,023
Gross unrealized losses, less than 12 months, short-term AFS securities (20) (18)
Fair value, 12 months or greater, short-term AFS securities 0 1,297
Gross unrealized losses, 12 months or greater, short-term AFS securities 0 (2)
Fair value, short-term AFS securities 22,708 14,320
Gross unrealized losses, short-term AFS securities (20) (20)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 26,667 64,325
Gross unrealized losses, less than 12 months, long-term AFS securities (65) (261)
Fair value, 12 months or greater, long-term AFS securities 0 0
Gross unrealized losses, 12 months or greater, long-term AFS securities 0 0
Fair value, long-term AFS securities 26,667 64,325
Gross unrealized losses, long-term AFS securities (65) (261)
U.S. governmental agency securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 0 0
Gross unrealized losses, less than 12 months, short-term AFS securities 0 0
Fair value, 12 months or greater, short-term AFS securities 1,995 3,971
Gross unrealized losses, 12 months or greater, short-term AFS securities (1) (4)
Fair value, short-term AFS securities 1,995 3,971
Gross unrealized losses, short-term AFS securities (1) (4)
Total short-term AFS securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 45,604 41,764
Gross unrealized losses, less than 12 months, short-term AFS securities (35) (46)
Fair value, 12 months or greater, short-term AFS securities 1,995 5,517
Gross unrealized losses, 12 months or greater, short-term AFS securities (1) (6)
Fair value, short-term AFS securities 47,599 47,281
Gross unrealized losses, short-term AFS securities (36) (52)
Total long-term AFS securities    
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 68,184 132,488
Gross unrealized losses, less than 12 months, long-term AFS securities (174) (564)
Fair value, 12 months or greater, long-term AFS securities 0 0
Gross unrealized losses, 12 months or greater, long-term AFS securities 0 0
Fair value, long-term AFS securities 68,184 132,488
Gross unrealized losses, long-term AFS securities $ (174) $ (564)
v3.25.1
GOODWILL AND INTANGIBLES - Goodwill Balances (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 412,173 $ 416,098
Foreign currency translation 2,622 (3,925)
Goodwill, ending balance 414,795 412,173
NYTG    
Goodwill [Roll Forward]    
Goodwill, beginning balance 160,813 164,738
Foreign currency translation 2,622 (3,925)
Goodwill, ending balance 163,435 160,813
The Athletic    
Goodwill [Roll Forward]    
Goodwill, beginning balance 251,360 251,360
Foreign currency translation 0 0
Goodwill, ending balance $ 251,360 $ 251,360
v3.25.1
GOODWILL AND INTANGIBLES - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Business Acquisition [Line Items]      
Intangible assets, net $ 251,203   $ 258,006
Indefinite-lived intangible assets 2,500    
The Athletic      
Business Acquisition [Line Items]      
Amortization expense $ 6,800 $ 7,100  
v3.25.1
GOODWILL AND INTANGIBLES - Finite-Lived Intangible Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 343,270 $ 343,270
Accumulated Amortization (94,544) (87,741)
Net Book Value $ 248,726 $ 255,529
Remaining Weighted-Average Useful Life (Years) 12 years 10 months 24 days 13 years 1 month 6 days
Trademark    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 162,618 $ 162,618
Accumulated Amortization (27,951) (25,951)
Net Book Value $ 134,667 $ 136,667
Remaining Weighted-Average Useful Life (Years) 17 years 1 month 6 days 17 years 3 months 18 days
Existing subscriber base    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 136,500 $ 136,500
Accumulated Amortization (37,125) (34,313)
Net Book Value $ 99,375 $ 102,187
Remaining Weighted-Average Useful Life (Years) 9 years 9 years 2 months 12 days
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 38,401 $ 38,401
Accumulated Amortization (24,554) (22,719)
Net Book Value $ 13,847 $ 15,682
Remaining Weighted-Average Useful Life (Years) 1 year 10 months 24 days 2 years 2 months 12 days
Content archive    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 5,751 $ 5,751
Accumulated Amortization (4,914) (4,758)
Net Book Value $ 837 $ 993
Remaining Weighted-Average Useful Life (Years) 1 year 3 months 18 days 1 year 7 months 6 days
v3.25.1
GOODWILL AND INTANGIBLES - Future Amortization (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2025 $ 20,410  
2026 26,960  
2027 20,171  
2028 19,335  
2029 19,250  
Thereafter 142,600  
Net Book Value $ 248,726 $ 255,529
v3.25.1
INVESTMENTS - Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]    
Equity securities $ 28.9 $ 29.5
v3.25.1
OTHER - Narrative (Details)
 3 Months Ended
Feb. 21, 2025
USD ($)
Jul. 27, 2022
USD ($)
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 09, 2020
a
Other Expense [Line Items]            
Area of land (in acres) | a           4
Proceeds from sales-type lease $ 33,000,000          
Severance costs     $ 2,607,000 $ 4,428,000    
Severance liability     6,100,000   $ 4,800,000  
Pre-tax litigation related costs     4,397,000 989,000    
Severance | Selling, General and Administrative Expenses            
Other Expense [Line Items]            
Severance costs     2,600,000 4,400,000    
Credit Facility | Amended Credit Facility            
Other Expense [Line Items]            
Unsecured revolving credit facility, maximum borrowing capacity   $ 350,000,000        
Unsecured revolving credit facility, unused commitment fee (quarterly)   0.20%        
Line of credit facility, outstanding borrowings     0   0  
Letters of credit outstanding     600,000   $ 600,000  
Capitalized Computer Software Costs            
Other Expense [Line Items]            
Capitalized computer software amortization     $ 1,900,000 $ 2,000,000.0    
v3.25.1
OTHER - Interest Income and Other, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Other Income and Expenses [Abstract]    
Interest income $ 10,220 $ 8,638
Interest expense (248) (251)
Total interest income and other, net $ 9,972 $ 8,387
v3.25.1
OTHER - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Reconciliation of cash, cash equivalents and restricted cash        
Cash and cash equivalents $ 182,597 $ 199,448 $ 206,817  
Restricted cash included within miscellaneous assets 14,561   13,879  
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 197,158 $ 213,857 $ 220,696 $ 303,172
v3.25.1
FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities $ 339,477 $ 366,474
Long-term AFS securities 380,249 345,946
Deferred compensation plan assets 38,000 45,000
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 191,830 154,375
Long-term AFS securities 159,900 191,013
U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 141,252 203,729
Long-term AFS securities 220,349 154,933
Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 4,400 4,400
Estimate of Fair Value Measurement | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 9,827 13,230
Contingent consideration 1,182 1,608
Estimate of Fair Value Measurement | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 9,827 13,230
Contingent consideration 0 0
Estimate of Fair Value Measurement | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 0 0
Contingent consideration 0 0
Estimate of Fair Value Measurement | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 0 0
Contingent consideration 1,182 1,608
Estimate of Fair Value Measurement | Recurring | Debt Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 339,477 366,474
Long-term AFS securities 380,249 345,946
Estimate of Fair Value Measurement | Recurring | Debt Securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Debt Securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 339,477 366,474
Long-term AFS securities 380,249 345,946
Estimate of Fair Value Measurement | Recurring | Debt Securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 191,830 154,375
Long-term AFS securities 159,900 191,013
Estimate of Fair Value Measurement | Recurring | Corporate debt securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Corporate debt securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 191,830 154,375
Long-term AFS securities 159,900 191,013
Estimate of Fair Value Measurement | Recurring | Corporate debt securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 141,252 203,729
Long-term AFS securities 220,349 154,933
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 141,252 203,729
Long-term AFS securities 220,349 154,933
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 4,400 4,400
Estimate of Fair Value Measurement | Recurring | Certificates of deposit | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Certificates of deposit | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 4,400 4,400
Estimate of Fair Value Measurement | Recurring | Certificates of deposit | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 1,995 3,970
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 1,995 3,970
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities $ 0 $ 0
v3.25.1
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration redemption period (in years) 5 years  
Estimate of Fair Value Measurement | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration $ 1,182 $ 1,608
v3.25.1
FAIR VALUE MEASUREMENTS - Change in Balance of Contingent Consideration (Details) - Contingent Consideration - Recurring - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at the beginning of the period $ 1,608 $ 4,991
Fair value adjustments (426) 537
Contingent consideration at the end of the period $ 1,182 $ 5,528
v3.25.1
PENSION AND OTHER POSTRETIREMENT BENEFITS - Pension Benefits - Net Periodic Pension Cost/(Income) (Details) - Pension Plan - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pension Benefits    
Service cost $ 1,661 $ 1,541
Interest cost 15,294 15,583
Expected return on plan assets (15,282) (18,109)
Amortization of actuarial loss 4,891 3,600
Amortization of prior service credit (486) (486)
Net periodic pension cost/ (income) or postretirement benefit cost 6,078 2,129
Qualified Plans    
Pension Benefits    
Service cost 1,661 1,541
Interest cost 13,217 13,376
Expected return on plan assets (15,282) (18,109)
Amortization of actuarial loss 4,026 2,603
Amortization of prior service credit (486) (486)
Net periodic pension cost/ (income) or postretirement benefit cost 3,136 (1,075)
Non- Qualified Plans    
Pension Benefits    
Service cost 0 0
Interest cost 2,077 2,207
Expected return on plan assets 0 0
Amortization of actuarial loss 865 997
Amortization of prior service credit 0 0
Net periodic pension cost/ (income) or postretirement benefit cost $ 2,942 $ 3,204
v3.25.1
PENSION AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pension Benefits    
Multiemployer pension plan liability adjustment $ (4,453) $ 0
Pension Plan    
Pension Benefits    
Pension contributions 2,900 $ 3,400
Expected future employer contributions $ 13,000  
v3.25.1
PENSION AND OTHER POSTRETIREMENT BENEFITS - Other Postretirement Benefits (Details) - Other Postretirement Benefit Plan - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pension Benefits    
Service cost $ 3 $ 4
Interest cost 204 272
Amortization of actuarial loss 0 174
Net periodic pension cost/ (income) or postretirement benefit cost $ 207 $ 450
v3.25.1
INCOME TAXES (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Tax Disclosure [Abstract]    
Income tax expense $ 14,417 $ 15,238
Effective income tax rate 22.50% 27.40%
v3.25.1
EARNINGS PER SHARE (Details) - shares
shares in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in shares) 1.1 1.0
Restricted Stock Units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in shares) 0.0 0.0
v3.25.1
SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION - Narrative (Details) - Class A Common Stock - USD ($)
$ in Millions
 3 Months Ended 38 Months Ended
Mar. 31, 2025
Mar. 31, 2025
Feb. 28, 2025
Feb. 28, 2023
Feb. 28, 2022
Class of Stock [Line Items]          
Stock repurchase program, authorized amount     $ 350.0 $ 250.0 $ 150.0
Share repurchases $ 58.9 $ 293.5      
Stock repurchase program, remaining authorized repurchase amount $ 456.5 $ 456.5      
v3.25.1
SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION - Changes in Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Other comprehensive income before reclassifications, before tax $ 3,509  
Amounts reclassified from accumulated other comprehensive loss, before tax 4,405  
Income tax expense 2,080  
Net current-period other comprehensive income, net of tax 5,834  
Foreign Currency Translation Adjustments    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period (2,762)  
Other comprehensive income before reclassifications, before tax 2,488  
Amounts reclassified from accumulated other comprehensive loss, before tax 0  
Income tax expense 654  
Net current-period other comprehensive income, net of tax 1,834  
Balance, end of period (928)  
Funded Status of Benefit Plans    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period (363,874)  
Other comprehensive income before reclassifications, before tax 0  
Amounts reclassified from accumulated other comprehensive loss, before tax 4,405  
Income tax expense 1,158  
Net current-period other comprehensive income, net of tax 3,247  
Balance, end of period (360,627)  
Net Unrealized Gain/(Loss) on Available-For-Sale Securities    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period 830  
Other comprehensive income before reclassifications, before tax 1,021  
Amounts reclassified from accumulated other comprehensive loss, before tax 0  
Income tax expense 268  
Net current-period other comprehensive income, net of tax 753  
Balance, end of period 1,583  
Total Accumulated Other Comprehensive Loss    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period (365,806)  
Net current-period other comprehensive income, net of tax 5,834 $ 503
Balance, end of period $ (359,972)  
v3.25.1
SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Other components of net periodic benefit costs/(income) $ 4,638 $ 1,051
Total reclassification, before tax (63,968) (55,655)
Income tax expense (14,417) (15,238)
Total reclassification, net of tax (49,551) $ (40,417)
Amounts reclassified from accumulated other comprehensive loss    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Total reclassification, before tax 4,405  
Income tax expense 1,158  
Total reclassification, net of tax 3,247  
Amounts reclassified from accumulated other comprehensive loss | Amortization of prior service credit    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Other components of net periodic benefit costs/(income) (486)  
Amounts reclassified from accumulated other comprehensive loss | Amortization of actuarial loss    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Other components of net periodic benefit costs/(income) $ 4,891  
v3.25.1
SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION - Total Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense $ 17,353 $ 15,856
Cost of revenue    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 4,291 3,954
Sales and marketing    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 578 392
Product development    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 6,617 6,235
General and administrative    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense $ 5,867 $ 5,275
v3.25.1
SEGMENT INFORMATION - Narrative (Details)
 3 Months Ended
Mar. 31, 2025
segment
Segment Reporting Information [Line Items]  
Number of reportable segments 2
The Athletic | Subscription  
Segment Reporting Information [Line Items]  
Percentage of revenue allocation 10.00%
The Athletic | Product Development, Marketing and Subscriber Servicing Expenses  
Segment Reporting Information [Line Items]  
Percentage of revenue allocation 10.00%
v3.25.1
SEGMENT INFORMATION - Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Total revenues $ 635,910 $ 594,015
Cost of revenue (excluding depreciation and amortization) 334,637 316,867
Sales and marketing 65,959 65,134
Product development 66,539 63,185
Adjusted general and administrative 76,077 72,775
Total adjusted operating profit 92,698 76,054
Other components of net periodic benefit costs 4,638 1,051
Depreciation and amortization 21,378 20,706
Severance 2,607 4,428
Multiemployer pension plan withdrawal costs 1,229 1,612
Generative AI Litigation Costs 4,397 989
Multiemployer pension plan liability adjustment 4,453 0
Interest income and other, net 9,972 8,387
Income before income taxes 63,968 55,655
Subscription    
Segment Reporting Information [Line Items]    
Total revenues 464,257 429,005
Advertising    
Segment Reporting Information [Line Items]    
Total revenues 108,076 103,711
Affiliate, licensing and other    
Segment Reporting Information [Line Items]    
Total revenues 63,577 61,299
Operating Segments | NYTG    
Segment Reporting Information [Line Items]    
Total revenues 588,913 557,394
Cost of revenue (excluding depreciation and amortization) 307,260 292,457
Sales and marketing 59,982 55,481
Product development 57,249 54,865
Adjusted general and administrative 74,600 69,847
Total adjusted operating profit 89,822 84,744
Operating Segments | The Athletic    
Segment Reporting Information [Line Items]    
Total revenues 47,560 37,184
Cost of revenue (excluding depreciation and amortization) 27,940 24,973
Sales and marketing 5,977 9,653
Product development 9,290 8,320
Adjusted general and administrative 1,477 2,928
Total adjusted operating profit 2,876 (8,690)
Operating Segments | Subscription | NYTG    
Segment Reporting Information [Line Items]    
Total revenues 431,520 401,370
Operating Segments | Subscription | The Athletic    
Segment Reporting Information [Line Items]    
Total revenues 32,737 27,635
Operating Segments | Advertising | NYTG    
Segment Reporting Information [Line Items]    
Total revenues 97,658 98,004
Operating Segments | Advertising | The Athletic    
Segment Reporting Information [Line Items]    
Total revenues 10,418 5,707
Operating Segments | Affiliate, licensing and other | NYTG    
Segment Reporting Information [Line Items]    
Total revenues 59,735 58,020
Operating Segments | Affiliate, licensing and other | The Athletic    
Segment Reporting Information [Line Items]    
Total revenues 4,405 3,842
Intersegment Eliminations    
Segment Reporting Information [Line Items]    
Total revenues (563) (563)
Cost of revenue (excluding depreciation and amortization) (563) (563)
Sales and marketing 0 0
Product development 0 0
Adjusted general and administrative 0 0
Total adjusted operating profit 0 0
Intersegment Eliminations | Subscription    
Segment Reporting Information [Line Items]    
Total revenues 0 0
Intersegment Eliminations | Advertising    
Segment Reporting Information [Line Items]    
Total revenues 0 0
Intersegment Eliminations | Affiliate, licensing and other    
Segment Reporting Information [Line Items]    
Total revenues $ (563) $ (563)