This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

New York Times Tumbles as Abramson Is Abruptly Replaced

NEW YORK (TheStreet) -- New York Times (NYT - Get Report) was tumbling Wednesday as the publisher said it was replacing Jill Abramson as executive editor with Dean Baquet, the newspaper's managing editor.

The company, in a statement, didn't cite a reason for the change. A story that ran on the newspaper's Web site said "the reasons for the switch were not immediately clear." Shares were falling 4.1% to $15.12.

Abramson, 60, the newspaper's first female executive editor, will give way to Baquet, a Pulitizer Prize-winning investigative journalist, who becomes the New York Times' first African-American editor. While executive editor, the Times launched a digital-subscription pay-model, introducing new online products such as its premium Times Insider service. She also oversaw coverage of the National Security Agency and investigations into corruption among leaders of China's Communist Party.

Arthur Sulzberger Jr., the publisher and chairman of New York Times Company, said in a statement that "Jill Abramson has my sincere thanks for not just preserving and extending the excellence of our news report during her time as executive editor, but also for inspiring her colleagues to adjust their approach to how we deliver the news."

Sulzberger announced the change to senior editors prior to informing the full newsroom around 2:30 p.m. New York time, the newpaper said.

Baquet, 57, a former editor of the Los Angeles Times, was hired by the Times in March 2007 as its Washington bureau chief. During the 1990s, he was an investigative reporter and national editor for The New York Times in New York and Washington, DC. .

>>Read More:

Final Hour: Stocks Pause From the Dizzy Climb

Volcker Garbled, Inaudible at Geithner Graduation

-- Written by Leon Lazaroff in New York.

>Contact by Email.

Leon Lazaroff is TheStreet's deputy managing editor.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
NYT $13.25 0.00%
AAPL $124.24 0.00%
FB $83.01 0.00%
GOOG $555.17 0.00%
TSLA $190.41 0.00%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs