New York Times faces second activist investor in 3 years as Fivespan takes stake
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Investment firm Fivespan Partners has acquired a stake in the New York Times Company, marking the second activist investor engagement in three years. Fivespan's founders, Dylan Haggart and Sarah Coyne, propose leveraging artificial intelligence to enhance the media company's subscription growth. The New York Times stock rose nearly 1% following the news and has increased 87% since August 2022. The company maintains a dual-class share structure to preserve editorial independence, with Fivespan focusing on mid-sized companies to improve operations and capital structures.
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