Streamlined N.Y. Times Gives Heir Apparent Less Room for Error
- Times shares are down 14 percent while News Corp. stock rises
- Two newspaper owners take different strategies for survival
Arthur Gregg Sulzberger.
Photographer: Todd Heisler/The New York Times via ReduxThis article is for subscribers only.
New York Times Co.’s heir apparent is inheriting a newspaper company that’s struggling to transform itself. His cross-town rival is getting more support from Wall Street as it faces the same challenges.
Times Co. shares are down 14 percent this year -- while the Wall Street Journal owner’s stock has risen slightly -- as investors question whether the Times’ new global strategy can offset the exodus of advertisers. Last quarter, the loss of print advertising accelerated, while digital ad revenue slumped for the second period in a row.