How a failed insurance clerk built a global newspaper empire
In 1785, John Walter was unemployed after a Jamaican hurricane bankrupted his employer. Instead of retreating, he used a flawed new typesetting patent to launch The Daily Universal Register. Today, that venture has evolved into a cornerstone of British media, surviving wars, scandals, and massive industrial shifts.
The origins of The Times are rooted in economic necessity. After losing his job at an insurance company due to hurricane-related losses in 1784, John Walter founded his publication on 1 January 1785. He initially experimented with logography, a typesetting system invented by Henry Johnson that promised speed but proved less efficient than advertised within three years. By 1 January 1788, after 940 editions, the paper adopted its modern name.
The publication's history is marked by significant technological and structural transformations. In 1814, the adoption of Friedrich Koenig’s steam-driven cylinder press helped drive growth, with circulation rising from 5,000 in 1815 to 51,200 by 1854. Later, the 20th century brought era-defining shifts in ownership and format. The paper was purchased by the Northcliffe estate in 1908, later by the Astor family in 1922, and eventually by Rupert Murdoch’s News International in 1981.
Despite its reputation as a 'newspaper of record,' the paper has faced intense controversy. It has been accused of endorsing antisemitic forgeries, such as The Protocols of the Elders of Zion in 1920, and advocating for German appeasement in the 1930s. It has also faced legal challenges regarding libel and journalistic accuracy, including high-profile cases involving human rights groups and individual figures. Today, under News UK, the brand maintains a massive digital presence, with total paid subscribers reaching approximately 740,000 as of June 2025.
Source: The Times
