Darsana Capital Boosts New York Times Position ~ market folly

Wednesday, October 25, 2017

Darsana Capital Boosts New York Times Position

Anand Desai's hedge fund firm Darsana Capital has filed a 13G with the SEC regarding shares of The New York Times (NYT).  Per the filing, Darsana now owns 5.8% of the company with over 9.41 million shares.

This is an increase from the previous 3 million shares Darsana owned at the end of the second quarter per their last 13F filing.  The new 13G indicates portfolio activity as of October 12th.

We've also highlighted some other recent portfolio activity from Darsana Capital here.

Per Google Finance, The New York Times is "a media company focused on creating, collecting and distributing news and information. The Company's principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms. The Company includes newspapers, print and digital products and investments. The Company's businesses include newspapers, such as The New York Times (The Times); Websites, including NYTimes.com; mobile applications, including The Times's news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, product review and recommendation Websites The Wirecutter and The Sweethome, digital archive distribution, NYT Live (its live events business) and other products and services under The Times brand."

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