Adolph Ochs - Chattanooga Times and New York Times

Chattanooga Times and New York Times

At the age of 19, he borrowed $250 to purchase a controlling interest in The Chattanooga Times, becoming its publisher. The following year he founded a commercial paper called The Tradesman. He was one of the founders of the Southern Associated Press and served as president. In 1896, at the age of 38, he again borrowed money to purchase The New York Times, a money-losing newspaper that had a wide range of competitors in New York City. He formed the New York Times Co., placed the paper on a strong financial foundation, and became the majority stockholder. In 1904, he hired Carr Van Anda as his managing editor. Their focus on objective news reporting, in a time when newspapers were openly and highly partisan, and a well-timed price decrease (from 3¢ per issue to 1¢) led to its rescue from near oblivion. The paper's readership increased from 9,000 at the time of his purchase to 780,000 by the 1920s.

In 1904, Ochs moved the New York Times to a newly-built building on Longacre Square in Manhattan, which the City of New York then renamed as Times Square. On New Year's Eve 1904, he had pyrotechnists illuminate his new building at One Times Square with a fireworks show from street level.

On August 18, 1921, the 25th anniversary of reorganization, the staff of The New York Times numbered 1,885. It was classed as an independent Democratic publication, and consistently opposed William Jennings Bryan in his presidential campaigns. By its fairness in the presentation of news, editorial moderation and ample foreign service, it secured a high place in American journalism, becoming widely read and influential throughout the United States.

Beginning with 1896, there was issued weekly a supplement, eventually called The New York Times Book Review and Magazine. Gradually other auxiliary publications were added: The Annalist, a financial review appearing on Mondays; The Times Mid-Week Pictorial on Thursdays; Current History Magazine, a monthly, started during World War I. The New York Times Index started in 1913 and was published quarterly; it compared only with the similar Index to London's The Times.

In 1901, Ochs became proprietor and editor of the Philadelphia Times, later merged in the Philadelphia Public Ledger, of which he was sole owner from 1902–12, when he sold it to Cyrus H. K. Curtis.

According to Disch his 1916 quote "I Affirm that more than 50% of money spent on advertising is squandered and is a sheer waste of printers's ink." might be the origin of the common Marketing quote "I know half the money I spend on advertising is wasted, but I can never find out which half", falsely attributed to John Wanamaker.