Fivespan Partners Acquires Stake in New York Times: Bloomberg Report

Fivespan Partners, a hedge fund, has built a stake in New York Times, according to Bloomberg. The New York Times Company is a global media organization with a focus on creating, collecting, and distributing news and information. It operates through various products and services, including newspapers, digital and print products, and related businesses.

Fivespan Partners, a hedge fund established last year by Dylan Haggart and Sarah Coyne, has taken a significant stake in the New York Times Company (NYT) [1]. The activist investment firm, which previously led ValueAct Capital Management’s investment in the Times, is now pushing for the integration of artificial intelligence (AI) to expand the company’s subscription base.

According to a letter reviewed by Bloomberg News, Fivespan believes AI could "more than double the company’s long-term revenue and profit potential" by enhancing growth, converting more readers into paying subscribers, and unlocking new profit pools [1]. The firm suggests using AI for low-cost text and audio translations to broaden the Times' international reach, developing dynamic paywalls and optimized pricing, and creating low-cost video offerings to boost revenue per user.

Fivespan has engaged privately with the Times and has not disclosed the size of its stake [1]. The New York Times Company, a global media organization, operates through various products and services, including newspapers, digital and print products, and related businesses [2]. The company reported adding 230,000 digital subscribers in the second quarter of 2025, down from 250,000 in the previous period [3].

The New York Times stock rose 2% following the news of Fivespan’s stake, closing at $59.56 in New York trading on Monday [3]. The company’s market value stands at approximately $9.7 billion, with the stock gaining 8.1% in the past year [3].

While the Times has previously explored AI cautiously, balancing innovation with the need to protect editorial integrity, the company has also faced legal challenges. In 2023, the Times sued Microsoft Corp. and OpenAI Inc. for using its content to develop AI services [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-08-26/activist-investor-fivespan-takes-stake-in-new-york-times
[2] https://www.marketscreener.com/news/fivespan-partners-builds-stake-in-new-york-times-bloomberg-reports-ce7c50d9da89f023
[3] https://www.investing.com/news/stock-market-news/new-york-times-stock-rises-after-activist-investor-fivespan-takes-stake-93CH-4210998