Berkshire Partners Holds 7.6M NYT Shares, Maintains Influence
Ticker: NYT · Form: SC 13G/A · Filed: Feb 13, 2024 · CIK: 71691
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**Berkshire Partners still owns 7.6M NYT shares, showing continued institutional confidence.**
AI Summary
Berkshire Partners Holdings LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership of 7,647,531 shares of The New York Times Company's Class A Common Stock as of December 31, 2023. This filing indicates that Berkshire Partners maintains significant shared voting and dispositive power over these shares, representing a substantial stake in the media company. For investors, this means a major institutional holder continues to have a vested interest and influence, which could signal confidence in the company's long-term strategy or potential for future engagement.
Why It Matters
This filing confirms a major institutional investor's continued significant stake in The New York Times Company, indicating their ongoing confidence or strategic interest in the company's future.
Risk Assessment
Risk Level: low — This filing is an amendment confirming an existing significant stake, not a new acquisition or divestiture, thus posing low immediate risk.
Analyst Insight
Investors should note that a major institutional holder, Berkshire Partners, continues to hold a substantial stake in NYT. This indicates ongoing institutional interest, but the filing itself doesn't suggest immediate buying or selling action. It's a confirmation of existing ownership, not a new investment thesis.
Key Numbers
- 7,647,531 — Class A Common Stock Shares (Represents the total number of shares of The New York Times Company beneficially owned by Berkshire Partners Holdings LLC as of December 31, 2023.)
Key Players & Entities
- Berkshire Partners Holdings LLC (company) — the reporting person and beneficial owner
- The New York Times Company (company) — the issuer of the securities
- 7,647,531 (dollar_amount) — number of shares beneficially owned
- December 31, 2023 (date) — date of event requiring the filing
- February 13, 2024 (date) — date the SC 13G/A was filed
Forward-Looking Statements
- Berkshire Partners will maintain its significant stake in The New York Times Company throughout 2024. (Berkshire Partners Holdings LLC) — medium confidence, target: December 31, 2024
FAQ
What type of filing is this and what does it indicate?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It indicates that Berkshire Partners Holdings LLC is updating its previous disclosure regarding its beneficial ownership of The New York Times Company's Class A Common Stock, as required by Rule 13d-1(b).
Who is the reporting person in this filing?
The reporting person is Berkshire Partners Holdings LLC, with a Central Index Key (CIK) of 0001597786, located at 200 Clarendon Street, 35th Floor, Boston, MA 02116.
What is the subject company and its CUSIP number?
The subject company is The New York Times Company, with a CUSIP number of 650111107 for its Class A Common Stock.
How many shares does Berkshire Partners Holdings LLC beneficially own, and what kind of power do they have over these shares?
As of December 31, 2023, Berkshire Partners Holdings LLC beneficially owns 7,647,531 shares of Class A Common Stock. They have shared voting power and shared dispositive power over all these 7,647,531 shares, with no sole voting or dispositive power.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as stated on the cover page of the filing.
Filing Stats: 2,019 words · 8 min read · ~7 pages · Grade level 7.9 · Accepted 2024-02-13 19:06:03
Filing Documents
- d10973197_13g-a.htm (SC 13G/A) — 143KB
- 0000919574-24-001169.txt ( ) — 145KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 14, 2024 STOCKBRIDGE FUND, L.P. By: Stockbridge Associates LLC, its general partner By: /s/ Kenneth S. Bring Name: Kenneth S. Bring Title: Managing Director STOCKBRIDGE PARTNERS LLC By: BPSP, L.P., its managing member By: Berkshire Partners Holdings LLC, its general partner By: /s/ Kenneth S. Bring Name: Kenneth S. Bring Title: Managing Director BERKSHIRE PARTNERS HOLDINGS LLC By: /s/ Kenneth S. Bring Name: Kenneth S. Bring Title: Managing Director BPSP, L.P. By: Berkshire Partners Holdings LLC, its general partner By: /s/ Kenneth S. Bring Name: Kenneth S. Bring Title: Managing Director Exhibit Index Exhibit No. Description 1 Joint Filing Agreement among Reporting Persons EXHIBIT 1 JOINT FILING AGREEMENT This will confirm the agreement by and among all the undersigned that the Schedule 13G filed on or about this date and any amendments thereto with respect to the beneficial ownership by the undersigned of shares of Class A Common Stock of The New York Times Company is being filed on behalf of each of the undersigned in accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934. This agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The execution and filing of this agreement shall not be construed as an admission that the undersigned are a group, or have agreed to act as a group. Dated: February 14, 2024 STOCKBRIDGE FUND, L.P. By: Stockbridge Associates LLC, its general partner By: /s/ Kenneth S. Bring Name: Kenneth S. Bring Title: Managing Director STOCKBRIDGE PARTNERS LLC By: BPSP, L.P., its managing member By: Berkshire Partners Holdings LL