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When Adolph Ochs purchased the floundering New York Times in 1896, he made it his mission to make the newspaper the number one paper in all of New York. He started by forming the New York Times Company and made himself the majority owner, ensuring the financial health of the paper. Next, he lowered the price of a daily edition from three cents to one cent. Readership began to ascend. Then, he moved the entire staff into a new shiny building in the middle of Manhattan, to a place called Longacre Square, later renamed Times Square.
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