Feb
06
'Failing' New York Times hits 13-year high as subscriptions soar
Posted in: Uncategorized
President Donald Trump has repeatedly described the New York Times as “failing,” but its latest results tell a different story.
Online subscriptions accelerated for a fourth quarter, prompting New York Times Co. to set an ambitious new goal: hitting 10 million subscriptions by 2025. That helped send the shares to a 13-year high on Wednesday.
The company is now doing well enough that it plans to buy back its Manhattan office space for $250 million, ending a decade-old leaseback deal from when it was desperate to pay down debt. The Times also raised its dividend.
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