New York Times To Shut Down Its Sports Desk, Shift Its Daily Coverage To Acquired Firm
Portfolio Pulse from Vandana Singh
New York Times Co (NYSE:NYT) announced it will shut down its sports desk and shift its daily sports coverage to The Athletic, a company it acquired last year. The move aims to maximize the newsrooms of both The Times and The Athletic, and provide more sports coverage. Despite the changes, there are no plans for layoffs. The Athletic, which is not yet profitable, has seen a significant increase in paying subscribers, rising to over three million as of March 2023.
July 11, 2023 | 12:27 pm
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NEUTRAL IMPACT
New York Times Co's decision to shift its sports coverage to The Athletic could lead to increased efficiency and more comprehensive coverage. However, the move has been criticized as 'union-busting', which could lead to negative publicity.
The shift of sports coverage to The Athletic could potentially increase the efficiency and breadth of New York Times Co's sports coverage, which could be beneficial for the company. However, the move has been criticized as 'union-busting', which could lead to negative publicity and potential backlash. The impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100