The New York Times Company is a leading media company; its flagship paper, the New York Times is considered as its most valuable asset. News is a low outlay, frequently purchased good, with a value proposition of intangible or informational nature, and a high differentiation potential. The publishing industry, newspaper in particular, had adopted the "Chinese Wall" principle-- the separation of editorial operations and business operations as a gatekeeping function. The industry is cyclical: when …showed first 75 words of 1622 total…

…showed last 75 words of 1622 total…advertisers within the markets in which it competes. Exhibit 1. NYTD Organizational Structure The New York Times Company Russell Lewis, Chief Executive Officer NYTD Six - Member Senior Policy Team Martin Nisenholtz, Chief Executive Officer Ellen Taus, Chief Financial Officer Lincoln Millstein, Executive Vice President Muriel Watkins, Vice President of Human Resources and Communications (two other executive members) Website General Managers Scott Meyer, NYTimes.com Lisa DeSisto, Boston.com Functional Heads (Sales, Marketing, Technology, Content Development)