New York Times jumps after ValueAct discloses 6.7% active stake

In a regulatory filing, activist investors ValueAct Capital disclosed that it holds a 6.7% stake in the New York Times Company. The filing, which allows for activism, states that ValueAct has “had and anticipates having further discussions with officers and directors of the (company) in connection with the (fund’s) investment.” In afternoon trading following the disclosure, New York Times shares are up $3.07, or 10%, to $34.76.