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San Francisco-based ValueAct, in a letter to investors, said it now owns a 7% stake in the Times, Bloomberg reported

NY Times surges after ValueAct takes 7% stake, urges changes

Activist investor ValueAct Capital Management has built a new position in the New York Times Co (NYSE: NYT), saying that the iconic newspaper company could improve digital sales and margins through an aggressive rollout of its subscriber-only bundles

By Arghyadeep Dutta
Published - Aug 11, 2022, 02:05 PM ET
Last Updated - Jun 10, 2024, 06:35 AM EDT

Activist investor ValueAct Capital Management has built a new position in the New York Times Co (NYSE: NYT), saying that the iconic newspaper company could improve digital sales and margins through an aggressive rollout of its subscriber-only bundles.

San Francisco-based ValueAct, in a letter to investors, said it now owns a 7% stake in the Times, Bloomberg reported.

“Our research suggests that most current readers and subscribers are interested in the bundle and would pay a large premium for it but are not aware the offering even exists,” ValueAct said in the letter.

“This is an opportunity we believe management needs to drive with urgency, as it is the biggest lever to accelerate growth, deepen NYT’s competitive moat, and ensure the long-term strength and stability of the platform.”

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