Johannes Salim, CFA
CFA, long/short equity, hedge fund manager

New York Times Company: Growth Path Still Unclear

Past week, I have looked at out-of-favor sectors, starting with a newspaper sector. The hope is to find an undervalued/overlooked stock due to constant negative news-flow of a secular shift from print to digital media. The first company in the sector I take a close look at is New York Times Company (NYSE:NYT), which is one of the strongest newspaper brands we know. Without further ado, let's dive into my finding on New York Times Company, followed by its subsequent intrinsic value/DCF valuation.

New direction: A single brand

Given secular headwinds (a shift from print to digital media on advertising/audience share), New York Times Company has adopted a new growth strategy to ride out the storm. With CEO...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
WITH SEEKING ALPHA PRO, INVESTORS CAN ALSO:
  • Access Top Ideas, chosen by Seeking Alpha’s editors
  • Filter long and short ideas by market cap and sector
  • Get Coverage of over 5,000 stocks, many of which have little or no coverage elsewhere
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO." Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else." Patrick Rice, Mainstay Capital Management
100% Satisfaction Guaranteed
Money back guarantee. Seeking Alpha PRO members receive a no-questions-asked refund for membership on months paid and not used. Details