Opinions
Paul Harris, CFA
New York Times Co.
NYT-N
DON'T BUY
May 19, 2010
Possible short? (He doesn't short stocks.) Newspaper industry is under a lot of pressure. Losing subscribers and the digital world is taking away a lot of their business.
$9.110
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DON'T BUY
Has made some reasonable changes in management over the last little while. The difficulty with a lot of the newspaper companies is that revenues have actually fallen off and the internet is slowly scooping that up. More and more people are a lot more comfortable reading stuff on the web and that's really going to hurt them.
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BUY
A media company does better when their core readership hates the existing President (NYT readers hate Trump), so NYT would so well if Trump is elected. NYT shares did nothing under Obama, but rallied during Trump. In 2016-2020, their subscription base grew at a 42% compound annual growth rate. Actual reading is flat, but games like Wordle are the growth driver.
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