Search Results for: “"mark thompson"”

Kevin Spacey To Deliver MacTaggart Lecture; Speech Usually Given By Major UK TV Execs

By NANCY TARTAGLIONE, International Editor | Monday, 13 May 2013 09:27 UKTags: House of Cards, Kevin Spacey, Mactaggart Lecture

In a first for a Hollywood star, Kevin Spacey will deliver the keynote MacTaggart Lecture at the Edinburgh International TV Festival in August. The influential speech traditionally focuses on serious issues facing the UK TV business. It has in the past been delivered by three members of the Murdoch family: Rupert, James and Elisabeth, who gave last year’s address. Other previous speakers include Ted Turner, Eric Schmidt and former BBC chief Mark Thompson.

Spacey’s involvement comes on the heels of exec producing and starring in House Of Cards, which Netflix positioned as a game-changer by releasing all 13 episodes of the drama’s first season at once. Season two is currently filming. On giving the MacTaggart, Spacey said, “Clearly this has been an exciting period for me personally, but also I believe this is a time of huge opportunity, innovation and creativity for all of us who live to tell stories and engage audiences. I’m excited to share my thoughts and meet players from across the media industry. I’m also an Edinburgh TV Festival virgin so have no idea what I am letting myself in for!” Read More »

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Big Media Pay: Who Were 2012′s Highest Paid CEOs?

By DAVID LIEBERMAN, Executive Editor | Monday May 6, 2013 @ 5:22pm EDTTags: Executive Compensation, Greg Maffei, Les Moonves, Marissa Mayer

Highest Paid CEOs 2012No surprise about who topped the list of 2012′s highest paid CEOs at the media companies whose compensation practices I track most closely. (See here for an explanation). CBS’ Les Moonves returns to the head of the pack with $62.2M, even though his package was 11.1% smaller than it was in 2011. That was an anomaly: The top 20 collectively made $542.7M, up from $416.6M in 2011, according to company proxy statements filed at the SEC. It took $25.9M to crack the Top 10 — last year Time Warner Cable’s Glenn Britt made it with $16.4M. The most notable change in this year’s list vs 2011 is the jump by Liberty Media’s Greg Maffei to No. 2 from No. 28 as his company adjusted stock options just in case the feds change the corporate deduction this year for performance-based compensation.

Related: Big Media Moguls With Out-Of-Whack Compensation

Yahoo’s Marissa Mayer also joins the top 10 following her move there from Google. Her appearance also highlights a quirk in this year’s list which has more CEOs than companies: Yahoo had three CEOs last year (Mayer is still there) and there were two apiece at Sirius XM (James Meyer replaced Mel Karmazin) and Cinemark (Tim Warner is now in charge). Also, remember that this list just includes corporate CEOs, not division chiefs or board chairs. I’ll be back soon with a list of the highest-paid media execs. The numbers on the right are the amount in millions of dollars for the total compensation as reported by each company.

Here’s our list of 2012′s highest-paid media CEOs: Read More »

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Global Showbiz Briefs: New BBC Chief Takes Reins, HBO & Canal Plus, China’s TV Docu Market, Bona Film Group

By NANCY TARTAGLIONE, International Editor | Wednesday, 3 April 2013 05:00 UKTags: BBC, Bona Film Group, Canal Plus, HBO

New BBC Chief Says “Best Days Lie Ahead”
Today was the first day on the job for the BBC’s new director general, Tony Hall. The broadcaster’s former head of news returned to the Beeb after more than a decade as CEO of the Royal Opera House. The organization he confronted today is in far different shape than it was when he left. After going into crisis mode last October when the Jimmy Savile sex abuse scandal broke open, the BBC was rocked by the mishandling of a Newsnight report that mistakenly identified a senior politician as an alleged pedophile. Those events led to the resignation of former director general George Entwistle after only 54 days on the job. Mark Thompson, Entwistle’s predecessor, left in September to become CEO of The New York Times Company and under his watch austerity measures were put in place after the license fee that was frozen until 2017. Two major unions went out on strike at the BBC last Thursday in protest over what was referred to as “a modern-day BBC sweatshop” along with bullying claims at the company. Hall made a handful of appointments prior to starting at the BBC, but has yet to name a head of news or head of television. In an email to staff today, he said, “With imagination and hard work, the BBC’s best days lie ahead of us.” Read More »

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BBC Releases 3,000 Documents From Inquiry Into Jimmy Savile/’Newsnight’ Scandal

By NANCY TARTAGLIONE, International Editor | Friday, 22 February 2013 13:24 UKTags: BBC, Jimmy Savile

The BBC this morning published 3,000 pages of interviews and correspondence related to the Jimmy Savile sex abuse scandal and the 2011 shelving of a Newsnight program that would have revealed the late host’s alleged crimes. The documents include few earthshattering revelations, but are laced with internal criticisms and email chains that provide a window onto the workings of the venerable broadcaster whose armor has been severely dinged in the past several months as a result of the combined crises. (Read the full report here.)

The documents, provided by the Pollard Inquiry into the handling of the Newsnight affair, include testimony from key witnesses like Newsnight anchor Jeremy Paxman, whose evidence has been the focus of much scrutiny given its criticisms of management. He told interviewers that the Pollard Inquiry was being conducted in a “ridiculous fashion” and called the BBC’s behavior regarding the Newsnight report “contemptible.” He further said he’d been surprised by then-editor Peter Rippon’s response when Paxman wanted to pursue the Savile investigation after learning that rival ITV was about to air its own exposé. According to Paxman, Rippon said “I just can’t do this.” Paxman contends the use of the word ‘can’t’ was “very, very unusual… and I didn’t say, ‘What do you mean ‘can’t'? Someone has told you that you can’t, or you physically can’t face it?’” Paxman says he now believes it was a mixture of both. (The BBC said yesterday that Rippon would take over a newly-created post as editor of the BBC online archive). Paxman added that Savile’s behavior was “common gossip” around the corporation, although much of his testimony has been redacted. The BBC said today that 3% of the overall information has been blacked out “for a very limited number of legal reasons.” Read More »

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New York Times Prepares To Sell The Boston Globe

By THE DEADLINE TEAM | Wednesday February 20, 2013 @ 1:19pm PSTTags: The New York Times Company

NEW YORK– The New York Times Company (NYSE: NYT) today announced that it plans to sell its New England Media Group, including The Boston Globe and its related properties, and that it has retained Evercore Partners to advise the Company and manage the sales process.

“Our plan to sell the New England Media Group demonstrates our commitment to concentrate our strategic focus and investment on The New York Times brand and its journalism,” said Mark Thompson, president and CEO of The New York Times Company. “The Boston Globe and the Worcester Telegram & Gazette are outstanding newspapers and they and their related digital properties are well-managed leaders in their markets with real opportunities for future development. We are very proud of our association with the Globe and the Telegram & Gazette, but given the differences between these businesses and The New York Times, we believe that a sale is in the best long-term interests of these properties and the employees who work for them as well as in the best interests of our shareholders.”

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UPDATE: Inquiry Finds Sex Abuse/Editorial Scandal Is “One Of The Worst Management Crises” In BBC History

By NANCY TARTAGLIONE, International Editor | Wednesday, 19 December 2012 12:50 UKTags: BBC, Jimmy Savile, Mark Thompson

UPDATE, 4:50 AM : A review into the cancellation of a BBC Newsnight program that would have revealed allegations of rampant sexual abuse by late BBC personality Jimmy Savile has been released. In the report, overseen by former Sky News chief Nick Pollard, are strong criticisms of the BBC Trust along with senior BBC executives past and present. The review (read it here) found that the BBC response to the scandal that blew open in October when rival ITV aired a program outlining allegations against Savile, was “chaos and confusion.” Pollard said, “The efforts to get to the truth behind the Savile story proved beyond the combined efforts of the senior management, legal department, corporate communications team and anyone else for well over a month.” Former BBC director general George Entwistle and BBC1 controller Danny Cohen didn’t look hard enough at the issues at the time the Newsnight report was shelved in late 2011 and tributes to Savile aired on BBC1, the review found. This was especially in light of emails that had been sent to Entwistle and Cohen, but apparently not read, that mentioned a “darker side” of Savile. Newsnight editor Peter Rippon is to be replaced but head of news Helen Boaden’s October offer to resign was not accepted and she will return to work tomorrow. Her deputy, Stephen Mitchell, resigned just after the Pollard report Read More »

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Global Showbiz Briefs: Sony LondonTV Deal, Rebekah Brooks Severance, Jimmy Savile Crimes, Berlin Film Mart

By THE DEADLINE TEAM | Wednesday December 12, 2012 @ 8:30pm PSTTags: Jimmy Savile, Rebekah Brooks, Sony Pictures TV

Sony Backs UK Consortium Bidding For LondonTV License
A group known as the Channel 6 Consortium has announced that Sony Pictures Television Networks in the UK has agreed to support LondonTV, the Consortium’s proposed local channel. There are currently 6 groups bidding for the license that regulator Ofcom will grant by February 2013. Under the agreement, SPT Networks will be a program schedule provider and deliver creative services for LondonTV in the event of a successful bid. SPT Networks’ UK advertising partner would also handle all advertising sales for LondonTV. The consortium is backed by London newspaper groups Archant, Tindle and Trinity Mirror. LondonTV’s mission is to produce thousands of hours of high quality local news and current affairs programming on an annual basis. Sony’s involvement would add series and films. Chief exec of the Channel 6 Consortium, Richard Horwood, said Sony’s “expertise in the multichannel sector will significantly strengthen LondonTV from the outset.” SPT Networks already operates Sony Entertainment Television and Sony Movie Channel in the UK. Read More »

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BBC Scandal: NYT CEO Delays Facing Staff Till “Early In The New Year”

By THE DEADLINE TEAM | Friday November 30, 2012 @ 6:45pm PSTTags: BBC, Jimmy Savile, Mark Thompson

Mark ThompsonNew York Times Co. CEO Mark Thompson, who was interviewed a week ago in London in connection with the BBC scandal involving sex abuse claims against former TV host Jimmy Savile, notified the paper’s staff in a memo today that conclusion of the investigation has been delayed. As a result Thompson, a former BBC director general who had planned to face Times staff questions December 17th and 18th, said those meetings won’t take place until “early in the new year”. Thompson was questioned last week about his role in squelching a news program about the claims against Savile. Content of that interview has not been made public but is expected to be disclosed by the time the inquiry wraps.

Related: BBC Directors Face Parliament Over Ongoing Crisis

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BBC Directors Face Parliament Over Ongoing Crisis: “We Shot Ourselves In The Foot”

By NANCY TARTAGLIONE, International Editor | Tuesday, 27 November 2012 14:36 UKTags: BBC, Jimmy Savile, Mark Thompson

In a three-hour session this morning, BBC Trust chairman Lord Chris Patten and acting BBC director general Tim Davie answered questions about ongoing troubles at the broadcaster. This was the same panel that grilled George Entwistle in October, two weeks before he was forced to resign as director general. Patten’s and Davie’s turns were somewhat less fraught, although Patten was often taken to task by one BBC-averse MP. Both Patten and Davie owned up to a “bad journalistic error” that led to the running of a recent Newsnight report that falsely implied former Margaret Thatcher adviser Lord McAlpine was a pedophile. However, Davie said he thought cancelling the 60 Minutes-like flagship program would be an “overreaction.” Disciplinary hearings are currently underway with the dozen or so people involved in the report. Read More »

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NBC Developing Comedy Starring Kenan Thompson & Produced By Lorne Michaels

By NELLIE ANDREEVA | Monday November 19, 2012 @ 12:25pm PSTTags: Big Deals TV, NBC, Saturday Night Live
Nellie Andreeva

Kenan Thompson eying an exit from Saturday Night Live, what up with that? NBC is developing a primetime comedy starring the SNL veteran and executive produced by SNL boss Lorne Michaels. According to TV Guide, the untitled family comedy, which has a script commitment from the network, would star Thompson as a man who moves in with his in-laws. Another member of the SNL team, writer Bryan Tucker, is writing the script and will executive produce with Thompson, Michaels and Andrew Singer (30 Rock). Read More »

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Lawyers’ Letter Raises Questions About When Mark Thompson Learned Of Alleged Jimmy Savile Abuse At The BBC: NYT

By THE DEADLINE TEAM | Friday November 16, 2012 @ 3:07am PSTTags: BBC, Jimmy Savile, Mark Thompson, The New York Times Company

Joe Utichi contributes to Deadline’s UK coverage

Just four days into his new job as CEO of The New York Times Company, Mark Thompson is again the subject of an article in its flagship newspaper. A story published today by The New York Times says a new piece of information “raises questions” about assertions Thompson has made with regard to when he learned of allegations of sexual abuse against late BBC host Jimmy Savile. Thompson told the NYT in October, “During my time as director general of the BBC, I never heard any allegations or received any complaints about Jimmy Savile.” He has also maintained that he knew nothing of a cancelled investigation by the BBC‘s flagship current affairs program Newsnight into the claims against Savile. But the NYT reports today that a letter sent by lawyers eight days before Thompson left the BBC in September reveals he was involved in “aggressive” legal action pertaining to the Savile story. The letter, sent on behalf of Thompson and news chief Helen Boaden, threatened Rupert Murdoch’s Sunday Times newspaper with “defamation proceedings” if it were to publish an article alleging the pair had orchestrated a cover-up over the scuppered Newsnight broadcast.

Related:
NYT Publisher Arthur Sulzberger Jr. Welcomes Mark Thompson As CEO
Latest Fiasco At BBC Turns Up The Heat On Incoming NYT CEO

The NYT, which has closely scrutinized Thompson’s role in the saga, says the letter has been revealed to include a summary of the abuse alleged against Savile, and the fact that some of the abuse was alleged to have taken place on BBC premises. A Thompson aide told the NYT that Thompson orally authorized the sending of the letter but did not know the details of its contents. “It’s not clear if he was shown it,” the aide said, “but he doesn’t remember reading it.”

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UPDATE: NYT Publisher Arthur Sulzberger Jr. Welcomes Former BBC Chief Mark Thompson As New CEO

By NANCY TARTAGLIONE, International Editor | Monday, 12 November 2012 18:30 UKTags: BBC, Mark Thompson, The New York Times Company

UPDATE, 10:30 AM: New York Times publisher Arthur Sulzberger, Jr. emailed staff today to welcome former BBC director general Mark Thompson as CEO of The New York Times Company. Thompson joins The Times just two days after his BBC successor resigned from the broadcaster amid ongoing editorial turmoil that has shaken public faith in the venerable company. Here is the text of Sulzberger’s message:

Mark will lead us as we continue our digital transformation, bolster our international growth, drive our productivity and introduce new technologies that will help us become better storytellers and enrich the experience for our readers and viewers …

That is what he did as director general of the BBC. His experience will be of great value to our company as we continue our pursuit of creating the highest quality journalism and the business results to support it.

All those who have met Mark, from staff members to our board of directors, admire his focus, meaningful expertise and appreciation for the long-term future of the Times Company.

Related: Latest Fiasco At BBC Turns Up The Heat On Incoming New York Times CEO

PREVIOUS, 6:48 AM: Former BBC director general Mark Thompson started work as CEO of The New York Times Company today, despite concerns of some Times journalists about his suitability for the job amid ongoing turmoil at the British broadcaster. ITV News grabbed the exec this morning as he was walking into the Times building where he said he believes that the BBC troubles “will not in any way affect my job, which I’m starting right now.” On the subject of the resignation this weekend of his BBC successor George Entwistle, he said, “Look, like many people, I’m very saddened by recent events at the BBC. But I believe the BBC is the world’s greatest broadcaster and I’ve got no doubt that it will Read More »

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UPDATE: BBC’s Interim Director General Emails Staff; Broadcaster Clarifies “Stepping Aside” Of News Chief Helen Boaden

By NANCY TARTAGLIONE, International Editor | Monday, 12 November 2012 11:20 UKTags: BBC, Mark Thompson, The New York Times Company

2ND UPDATE 3:20 AM: Following Saturday’s resignation of BBC director general George Entwistle, the BBC Trust appointed Tim Davie, an executive from outside the news chain, to become acting director. A permanent director is to be appointed in the next few weeks, but in the meantime, Davie has written to BBC employees. He sent an email to staff this morning, which The Guardian has posted in its entirety. In part, it reads: “The BBC is a precious institution and I am determined to give the BBC the clarity and leadership it deserves in the next few weeks. What I will also do is continue what George set out – to work tirelessly on getting rid of anything that gets in the way of delivering the best of British creativity to our audiences. There will be no handbrake turn.” Read More »

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UPDATE: Latest Fiasco At BBC Turns Up The Heat On Incoming New York Times CEO

By NANCY TARTAGLIONE AND JOE UTICHI | Saturday November 10, 2012 @ 6:07pm PSTTags: BBC, George Entwistle, Jimmy Savile, Mark Thompson

This article was reported and written by Deadline’s London correspondent Joe Utichi and International Editor Nancy Tartaglione:

2ND UPDATE, 6:07 PM: With George Entwistle’s surprise resignation from the BBC Saturday night in the UK, new emphasis falls on his predecessor, Mark Thompson, who is due to start as the New York Times Co.’s new CEO on Monday. He’s been the focus of New York Times editorials in recent weeks which have raised questions about details of his involvement in the cancellation of the Newsnight piece on accused sex abuser Jimmy Savile, which fell under his watch.

But Entwistle had certainly borne the brunt of criticism to date. Now, it casts the wrong kind of shadow on Thompson’s new employers, who seem likely to address the issue before Thompson takes up his post. Media analyst Ken Doctor thinks it’s “more likely Thompson doesn’t start on Monday than he does,” he tells Deadline. “He could well be dragged into parliamentary hearings and inquiries, and even if there’s no guilt or blame there, it’ll keep that story alive for a series of months.” It’s attention the Times doesn’t want as it hits a high point, journalistically. “They’ve done a lot of work on their digital strategy and can take pride in their coverage of key events like the election.” Doctor says. “They’ve been able to define themselves as the white knight preservers of journalism, untainted by scandal. In the wake of the phone hacking scandal, they could always contrast themselves with the Murdoch empire. But as of Monday they’ll have a CEO who is essentially using a similar defense to James Murdoch,” that he was too busy to know what was going on. The next 36 hours will prove crucial as we learn whether the ongoing scandal threatens another media organization.
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Global Showbiz Briefs: BBC Probe, Keshet Sells ‘Fair & Square’, ‘Father’s Day’ Banned, Quickflix Seeks Quick Cash

By THE DEADLINE TEAM | Thursday November 1, 2012 @ 9:55pm PDTTags: BBC, Global Showbiz Briefs, Keshet, Quickflix

BBC Inquiry To Ramp Up Next Week
As incoming New York Times Company CEO Mark Thompson is given the going over by staff at the newspaper who have questioned his involvement in the Jimmy Savile scandal, the BBC’s internal inquiry in the contentious cancellation of its Newsnight investigation will start interviewing key players next week. They include the editor of the program, Peter Rippon, who killed a probe into Savile’s impropriety that was set to air in December last year. He reported to Helen Boaden, director of BBC News, and George Entwistle, the new BBC director general who was head of television at the time. Both are expected to face tough questions from Nick Pollard, the former head of Sky News who is in charge of the inquiry. They’ll be joined by the Newsnight journalists who led the investigation into Savile, some of whom blew the whistle on the odd decision-making in a report on BBC current affairs program Panorama last week. Meanwhile, rival broadcaster ITV, which aired a program finally revealing the allegations against Savile at the start of October, is planning further revelations about the late Top Of The Pops host. A second report will be fronted by Mark Williams-Thomas, the former detective who led the original show. It’ll air at the end of November, as the Pollard inquiry is expected to be publishing its findings. – Joe Utichi
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Global Showbiz Briefs: Sitcom Showcase, ITV ‘Celebrity Splash’, HBO Go Asia & More

By THE DEADLINE TEAM | Wednesday October 31, 2012 @ 8:21pm PDTTags: BBC, Celebrity Splash, HBO Asia, Mark Thompson

BBC Comedies Vie For Commissions At Salford Sitcom Showcase
The BBC is taking a shot at remaking It Takes A Village, the 2010 ABC pilot by Casey Johnson & David Windsor that starred Leah Remini. Whether the UK version actually goes forward, however, will be in the hands of a live studio audience next month. For the second year in a row, the BBC is testing a crop of potential shows in front of a live audience at the Salford Sitcom Showcase, a three-day event during which six comedy pilots are performed onstage to a packed house as execs take notes. The first edition spawned commissions for family sitcoms Citizen Khan, which BBC One just picked up for a second season, and Hebburn which debuted on BBC Two this month. On deck at this year’s showcase with It Takes A Village are the battling-neighbors show 1987, from Sherlock producers Beryl and Sue Vertue; Just Us, about a couple forced to downsize from London that’s exec produced by Don Taffner for DLT Entertainment and stars Downton Abbey‘s Samantha Bond; The Gatekeeper, from exec producers Gareth Edwards and Saurabh Kakkar about a 40-ish man who works the nightshift as a security guard; the Pete Thornton exec produced Chain Gang about life in a Bristol coffee bar and family show Homeboys from exec producer Mario Stylianides for Lucky Giant. This year, the Salford Showcase runs from Nov 21-23.
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BBC Scandal May Involve Additional “Figures Of High Standing”

By THE DEADLINE TEAM | Thursday October 25, 2012 @ 9:21pm PDTTags: BBC

The number of possible victims in the BCC‘s escalating sex abuse scandal has grown to 300 from 200 over the past week. Additionally, other people may have acted with the accused man, the late Jimmy Savile, investigators said today. Savile, who was one of Britain’s most popular TV hosts, also was “undoubtedly” one of the most prolific sex offenders in recent British history, the New York Times reported. In preliminary telephone interviews with 130 potential victims, 114 accused Savile of criminal behavior ranging from “inappropriate touching” to rape. Of 300 possible victims, all but 2 have been female. The vast majority of complaints have been against Savile, but a number of other “living people” are under investigation. BBC Trust Chairman Lord Patten meanwhile told ITV News he would not be surprised if the Savile scandal resulted in disciplinary action or even resignations of BBC staff. Patten said he had to be realistic. “We have to find out who made mistakes, where those mistakes were made and what the consequences of those mistakes were. It seems difficult to believe there weren’t any mistakes and those have consequences.” The BBC reported that police were looking at “figures of high standing” who might have assisted Savile, helped cover it up or taken part in assaults themselves.

Related: BBC Scandal Turns Spotlight On Incoming New York Times CEO Mark Thompson

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BBC Scandal Turns Spotlight On Incoming New York Times CEO Mark Thompson

By NANCY TARTAGLIONE, International Editor | Wednesday, 24 October 2012 13:14 UKTags: BBC, Jimmy Savile, Mark Thompson, The New York Times Company

The sex abuse/editorial scandal plaguing the BBC is starting to reach across the pond. Mark Thompson, the former head of the BBC and the incoming CEO of The New York Times Company, has reiterated to the newspaper that he was not aware of the BBC’s Newsnight investigation into sexual abuse allegations against late TV host Jimmy Savile until after the report was spiked. Thompson’s comments to the Times run in an interview that appears in today’s paper – a day after Times ombudsman Margaret Sullivan wrote, “How likely is it that (Thompson) knew nothing?” and suggested it was “worth considering whether he is the right person for the job, given this turn of events.”

A New York Times spokesman said, “Mark will join The New York Times Company as president and CEO the week of Nov. 12. We believe his experience and accomplishments make him the ideal person to take the helm of the Times Company as we focus on growing our businesses through digital and global expansion.” But Douglas Arthur, an analyst at Evercore Partners, has said it would be advisable to “delay” Thompson’s start until the situation shakes out in the UK. Independent reviews are underway at the BBC on the Savile allegations as they relate to the corporation and on the controversial killing of the Newsnight piece. Thompson’s successor, George Entwistle, was grilled on the matters for two hours yesterday by a parliamentary select committee.

Related: BBC’s George Entwistle Grilled By Parliament Over Jimmy Savile Sex Scandal

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UPDATE: New York Times Says Pension Reduction Plan Is Voluntary

By DAVID LIEBERMAN, Executive Editor | Friday September 14, 2012 @ 9:41am EDTTags: The New York Times Company

UPDATE, 10:06 AM: This may teach The Times to let lawyers make its big announcements. The company’s calling news organizations to clarify that the plan laid out in this morning’s SEC filing is voluntary: Former employees who are fully vested in the pension plan can elect to keep their current payments. That leaves the question: Why would anyone want to accept a lower amount — the assumption behind the company’s claim that this will reduce its obligations? The Times says that some people might prefer a lump sum now so they don’t have to keep track of payments.  

PREVIOUS, 6:41 AM: This is “another step the Company is taking to reduce the size of its pension obligations and the volatility in the Company’s overall financial condition,” the New York Times says in an SEC filing this morning. It’s giving a choice to about 5,200 pension plan participants — who account for 15% of the liabilities. (Those total liabilities came to nearly $2B at the end of 2011.) By November 2 they must decide whether they want a one-time payment by year-end that equals the present value of their pension benefit, or accept “a reduced monthly annuity.” As a result of the change, the Times expects to take a charge on its Q4 earnings. The amount will depend on how many people take the lump sum payment, as well as the usual collection of assumptions that determine how … Read More »

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