The New York Times Is Raising Subscription Prices, Feeding a Stock Rally
The New York Times (NYSE: NYT) announced late last week in its fourth-quarter 2019 earnings release that it will immediately begin bumping up prices for some digital subscribers. This news, coupled with another quarter of strong digital subscription additions, powered a nearly 11% jump in the stock during Thursday's trading. Shares of The Gray Lady have soared 150% cumulatively over the last three years.
The Times stated that the price increase is initially aimed at a subset of its tenured digital subscription base. The company pointed out that its digital subscribers haven't seen an increase in their invoices since 2011, when it first launched its paid online news model.
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Source Fool.com
