December 04, 2008
Yesterday I wrote a discursive piece tipping The New York Times Company. By hideous yet happy chance I seem to be on the same wavelength as the management.Today they announce Times Extra which upgrades their front page to a 3rd party content aggregator. A small step, but significant. The Times has potential. It's America's best known journal despite treachery, disgrace and mismanagement and it's a major owner of the brand value of New York City itself. NYC has global recogniton approached only by London and Paris as a city of the imagination. Once the NYT figures out its global potential on the web, it could gain a massive boost to circulation and advertising. This little step today may prod the market to see NYTco as an internet growth play to own rather than a dead trees decay play to short. Price today - $8.10. Market cap - $1.16b.