The stock market rally has run up to a test of its 200-day line. Apple, Microsoft are near buy points. Tesla rival Li Auto reports Monday. Read More...
Reuters
ValueAct takes stake in NYTimes, says paper could grow strongly
(Reuters) -ValueAct Capital Management disclosed on Thursday it has built a nearly 7% stake in the New York Times Co and thinks the newspaper company could grow more quickly by aggressively offering its all-access digital bundle that gives readers more than basic news. The investment firm announced the new position in a regulatory filing on Thursday and told its own investors in a letter that the newspaper has ways to thrive despite headwinds facing the industry. ValueAct said its research has determined that subscribers would be willing to pay a premium for the bundle, which includes Cooking, Games, product review website the Wirecutter, and sports website The Athletic, in addition to the news.
