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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2025, and December 31, 2024:
(In thousands) |  | September 30, 2025 |  | December 31, 2024
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term AFS securities(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 192,097 |  |  | $ | — |  |  | $ | 192,097 |  |  | $ | — |  |  | $ | 154,375 |  |  | $ | — |  |  | $ | 154,375 |  |  | $ | — |
U.S. Treasury securities |  | 171,516 |  |  | — |  |  | 171,516 |  |  | — |  |  | 203,729 |  |  | — |  |  | 203,729 |  |  | — |
Certificates of deposit |  | 4,400 |  |  | — |  |  | 4,400 |  |  | — |  |  | 4,400 |  |  | — |  |  | 4,400 |  |  | — |
U.S. governmental agency securities |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,970 |  |  | — |  |  | 3,970 |  |  | — |
Total short-term AFS securities |  | $ | 368,013 |  |  | $ | — |  |  | $ | 368,013 |  |  | $ | — |  |  | $ | 366,474 |  |  | $ | — |  |  | $ | 366,474 |  |  | $ | — |
Long-term AFS securities(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 280,227 |  |  | $ | — |  |  | $ | 280,227 |  |  | $ | — |  |  | $ | 154,933 |  |  | $ | — |  |  | $ | 154,933 |  |  | $ | — |
Corporate debt securities |  | 196,623 |  |  | — |  |  | 196,623 |  |  | — |  |  | 191,013 |  |  | — |  |  | 191,013 |  |  | — |
U.S. governmental agency securities |  | 2,579 |  |  | — |  |  | 2,579 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total long-term AFS securities |  | $ | 479,429 |  |  | $ | — |  |  | $ | 479,429 |  |  | $ | — |  |  | $ | 345,946 |  |  | $ | — |  |  | $ | 345,946 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred compensation(2)(3) |  | $ | 11,385 |  |  | $ | 11,385 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,230 |  |  | $ | 13,230 |  |  | $ | — |  |  | $ | — |
Contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,608 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,608 |
(1)We classified these investments as Level 2 since the fair value is based on market observable inputs for investments with similar terms and maturities. (2)The deferred compensation liability, included in Other liabilities—other in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), a frozen plan that enabled certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015. (3)The Company invests the assets associated with the deferred compensation liability in life insurance products. Our investments in life insurance products are included in Miscellaneous assets in our Condensed Consolidated Balance Sheets, and were $39.8 million as of September 30, 2025, and $45.0 million as of December 31, 2024. The fair value of these assets is measured using the net asset value per share (or its equivalent) and has not been classified in the fair value hierarchy.
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents changes in the contingent consideration balances for the third quarters and first nine months ended September 30, 2025, and September 30, 2024:
|  | Quarters Ended |  | Nine Months Ended
(In thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Balance at the beginning of the period |  | $ | 856 |  |  | $ | 3,561 |  |  | $ | 1,608 |  |  | $ | 4,991 |
Payments |  | (431) |  |  | — |  |  | (431) |  |  | (1,724) |
Fair value adjustments(1) |  | (425) |  |  | — |  |  | (1,177) |  |  | 294 |
Contingent consideration at the end of the period |  | $ | — |  |  | $ | 3,561 |  |  | $ | — |  |  | $ | 3,561 |
(1)Fair value adjustments are included in General and administrative costs in our Condensed Consolidated Statements of Operations.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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