Valueact Capital Partners completed the acquisition of a 6.7% stake in New York Times for $350m.

Valueact Capital Partners, an investment company, completed the acquisition of a 6.7% stake in New York Times, an American mass media company, for $350m. “Our research suggests that most current readers and subscribers are interested in the bundle and would pay a large premium for it but are not aware the offering even exists. This is an opportunity we believe management needs to drive with urgency, as it is the biggest lever to accelerate growth, deepen NYT’s competitive moat, and ensure the long-term strength and stability of the platform,” ValueAct.