New York Times (NYT +2.8%) is showing peers a paywall can pay off even as newspaper circulation dwindles, amassing 224,000 digital-only subscribers since charging digital readers for access in March (earnings). Newspaper stocks rally: GCI +3.6%, MEG +10.9%, MNI +5.1%. Diversified media: DIS +3.5%, NWS +3.2%, CMCSA +2.6%, CBS +1.7%.
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