Activist investor ValueAct has built a 6.7% stake in the New York Times.
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." ValueAct purchased more than 11 million shares and reportedly wants the news organization to push further into subscriber-only bundles,Stay informed about local news and weather. Get the NBC 7 San Diego app for
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