#FailingNYTimes Feasts in Trump Era Amid Famine for Local Papers
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President Donald Trump loves to hurl his Twitter-ready insult at the New York Times: #failingnytimes.
But in the stock market, the New York Times Co. has been looking like a roaring success lately, particularly by the standards of the beleaguered newspaper industry. Since Trump won the presidency in November, the publisher’s share price has soared 57%. Online subscriptions are up, bigly — about 19% in the first quarter alone.
Scrutinizing the president turns out to be good business, at least for top national papers like the Times and the Washington Post. A different story is playing out for local publications, which are still suffering through the industry’s long decline and need to retain subscribers who are sympathetic to Trump. Consider McClatchy, which owns about 30 papers, including the Miami Herald. Its shares have plummeted 31% since Election Day. Subscriptions have barely budged.
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