Shulou(Shulou.com)11/24 Report--

Sina Technology News Beijing time on August 12 morning news, local time on Thursday, the United States Securities and Exchange Commission (SEC) documents show that the activist investor ValueAct already owns 6.7% of the shares of the New York Times Company, the news pushed the company's share price up about 10% on the day.

A spokesman for the New York Times Company said in a statement: "We know that ValueAct has invested in the company. As we have done with other shareholders, our management team has had a dialogue with ValueAct."

ValueAct reportedly bought more than 1100 million shares in the New York Times Company and hopes the company will further launch content packages that are limited to paid subscribers. ValueAct has not responded to this message.

According to the results released last week, the New York Times Company added about 180000 digital-only paid subscribers in the second quarter of 2022, and 230,000 digital-only paid subscribers were sold. This shows that many users subscribe to more than one paid piece of content. This brings the total number of paid subscribers to the New York Times Company's print and digital editions to 9.17 million, with a total subscription of 1056 million. This includes 1 million paying subscribers to the Atlantic, which the company recently acquired.

In the second quarter of this year, the New York Times Company's digital subscription revenue was $238.7 million, higher than in the same period in 2021. The New York Times pays for news, popular cooking recipes, and games.

As of Thursday afternoon local time, shares of the New York Times Company were trading at about $35, the highest level since mid-May. The company's shares have fallen about 25% so far this year and now have a market capitalization of about $5.85 billion.

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