New York Times (NYT) Names New Executive Editor, Abramson Steps Down

NEW YORK (TheStreet) -- New York Times (NYT) has named Dean Baquet as its new executive editor, effective immediately, replacing Jill Abramson. Baquet has held the position of managing editor since September 2011. 

Abramson's departure was unexpected after three years at the helm of the newspaper. She was the first female to hold the position. Reporting on the news, The New York Times said "reasons for the switch were not immediately clear."

"Our masthead became half female for the first time and so many great women hold important newsroom positions. Dean has been my partner in all this and he will be a great executive editor," commented Abramson in a statement. 

Also See: New York Times Tumbles as Abramson Is Abruptly Replaced

Must ReadWarren Buffett's 10 Favorite Growth Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

-----------

TheStreet Ratings team rates NEW YORK TIMES CO as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NEW YORK TIMES CO (NYT) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

If you liked this article you might like

Albertsons-Plated Deal Likely 'First Domino to Fall' In Meal Kit M&A

Tesla Shorts Beware; Traditional Media Makes a Comeback, -ICYMI

Rolling Stone Stake Could Fetch as Much as $80 Million

Can an iTunes for News Succeed? Chartbeat Founder Thinks So

Tronc Has Another Makeover Project With Daily News