New York Times stock jumps after activist investor ValueAct reveals 6.7% stake
Summary
Activist investor ValueAct has built a 6.7% stake in the New York Times, according to an SEC filing out Thursday, sending shares of the media company up around 10% in afternoon trading. "We are aware that ValueAct has made an investment in the Company," a spokesperson for the New York Times said in a statement. "As we do with other shareholders, members of our management team have had conversations with ValueAct to hear their views and share ours." These subscriptions include digital access to the companys news, its popular cooking offering, and games. New York Times stock was trading at roughly $35 per share Thursday afternoon, its highest level since mid-May.
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