((Translation automated by Reuters using automatic learning and generative AI, please refer to the following warning: by Svea Herbst-Bayliss
The investment company FIVESPAN PARTNERS has taken a position in the ordinary actions of the New York Times Company NYT.N and plans to put pressure to obtain changes, according to two sources familiar with the subject, which makes it the second time in three years that the newspaper has faced an activist investor.
The founders of Fivespan, Dylan Haggart and Sarah Coyne, are back to the New York Times with suggestions that artificial intelligence could widen the media business subscription base, said a person familiar with their reflection. In 2022, while they were associated with Valueact Capital, they led the investment company’s campaign to the media company, urging management to bring together its offers to accelerate growth.
Bloomberg reported for the first time the new participation of Fivespan on Tuesday.
The representatives of Fivespan and New York Times refused to comment.
The New York Times’ share price climbed almost 1 % shortly after opening the markets on Tuesday and won 87 % since August 2022, the date on which Valueact was involved for the first time.
The New York Times said that it was already integrating AI into the editorial room, in particular to analyze data and help write articles summaries.
The New York Times Company has a double -class actions structure to guarantee editorial independence and long -term strategy, with class actions owned by the public and class B actions controlled by the OCHS Sulzberger family through a trust. Fivespan was launched last year by Haggart and Coyne. The two people said they planned to focus on investment in medium -sized companies in order to work with management teams and board of directors and to help them improve their operations and their capital structures.
