in 1904, "new york times" moved to a new building on 42nd street at longacre square. under there, a new york city subway station was built. the area has been called "times square" since april 8, 1904. the square took its name from the newspaper. in 1913, the "times" moved again. the old times building, one times square, is best known for the times square ball drop that happens every december 31.