Can an Activist Investor Unlock Big Gains for This Stock?

·4 min read
Can an Activist Investor Unlock Big Gains for This Stock?

While many print media stocks have been resigned to the dustbin of history, the New York Times (NYSE: NYT) has shown plenty of signs of life, with a five-year return of 80%. It can be difficult to teach an old dog new tricks, but this 170-year-old, iconic New York City newspaper has done a great job of reinventing itself as a modernized digital media platform and is a strong success story in the sector. ValueAct Capital Management, a prominent activist investor with over $6 billion in assets under management, recently initiated a position in New York Times with a stake worth over $86 million during the second quarter.