The New York Times announced on Tuesday that it added 180,000 new digital subscribers and achieved a profit of $46.6 million in the second quarter. Kopit Levien emphasized that the company’s diverse product portfolio continues to attract an engaged audience, even amid reduced platform traffic and a less attention-capturing news cycle. More than one-third of the Times’ nearly 10 million subscribers have already purchased multiple products. The New York Times Guild, representing the sports desk, has condemned the move as “union-busting” and filed a grievance with the company. Trading at approximately $43.61 a share, the New York Times stock rose 6.83% since the previous day’s close.

Source: New York Times August 08, 2023 16:15 UTC