The New York Times' parent company has been demoted from the S&P 500, the defining U.S. large-cap stock index, while online video player Netflix ascended to take its place. As entrepreneur Dewayne Hendricks said on Twitter, it's a "sign of the times."

S&P MidCap 400 constituents F5 Networks Inc., Netflix Inc. and Newfield Exploration Co. will switch places with S&P 500 constituents The New York Times Co., Office Depot Inc. and Eastman Kodak Co.

Read the full story at Bloomberg.

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