Farallon Capital Partners Discloses NYT Stake via SC 13G
Ticker: NYT · Form: SC 13G · Filed: Jan 2, 2024 · CIK: 71691
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, new-stake
TL;DR
**Farallon Capital just revealed a new stake in NYT, signaling institutional interest.**
AI Summary
Farallon Capital Partners, L.P. filed an SC 13G on January 2, 2024, disclosing its ownership of Class A Common Stock in The New York Times Company (NYT). This filing indicates that Farallon Capital Partners, L.P. now holds a significant stake, with the event triggering the filing occurring on December 20, 2023. This matters to investors because a major institutional investor like Farallon taking a position could signal confidence in NYT's future performance or potential strategic changes, potentially influencing other investors' perceptions and the stock price.
Why It Matters
This filing reveals a new significant institutional investor in The New York Times Company, which can be interpreted as a vote of confidence and potentially attract further investment.
Risk Assessment
Risk Level: low — An SC 13G filing typically indicates a passive investment, posing minimal direct risk to current shareholders.
Analyst Insight
Investors should note the entry of a new institutional holder, Farallon Capital Partners, L.P., into The New York Times Company, and consider researching Farallon's investment thesis for potential insights into NYT's future prospects.
Key Players & Entities
- Farallon Capital Partners, L.P. (company) — the reporting person acquiring shares
- The New York Times Company (company) — the issuer of the securities
- December 20, 2023 (date) — date of event requiring the filing
- January 2, 2024 (date) — date the SC 13G was filed
- Class A Common Stock (company) — the type of security held
Forward-Looking Statements
- Other institutional investors may take a closer look at The New York Times Company following Farallon Capital's disclosed stake. (The New York Times Company) — medium confidence, target: Q1 2024
FAQ
What type of filing is this and who filed it?
This is an SC 13G filing, filed by Farallon Capital Partners, L.P.
Which company's stock is the subject of this filing?
The subject company is The New York Times Company, identified by CIK 0000071691 and CUSIP 650111107.
What was the date of the event that triggered this filing?
The event which required the filing of this statement occurred on December 20, 2023.
What type of securities are involved in this filing?
The securities involved are Class A Common Stock, par value $0.10 per share, of The New York Times Company.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c).
Filing Stats: 4,936 words · 20 min read · ~16 pages · Grade level 13.1 · Accepted 2024-01-02 14:25:16
Key Financial Figures
- $0.10 — ssuer) Class A Common Stock, par value $0.10 per share (Title of Class of Securitie
Filing Documents
- 13g_nyt.htm (SC 13G) — 421KB
- 0000908834-24-000003.txt ( ) — 422KB
From the Filing
SC 13G 1 13g_nyt.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. ) * The New York Times Company (Name of Issuer) Class A Common Stock, par value $0.10 per share (Title of Class of Securities) 650111107 (Cusip Number) December 20, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) S Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on following pages) Page 1 of 36 Pages Exhibit Index Found on Page 35 13G CUSIP No. 650111107 1 NAMES OF REPORTING PERSONS Farallon Capital Partners, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [ X ]** ** The reporting persons making this filing hold an aggregate of 9,476,791 Shares, representing 5.8% of the class of securities. The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page. 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION California NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER -0- 6 SHARED VOTING POWER 460,553 7 SOLE DISPOSITIVE POWER -0- 8 SHARED DISPOSITIVE POWER 460,553 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 460,553 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.3% 12 TYPE OF REPORTING PERSON (See Instructions) PN Page 2 of 36 Pages 13G CUSIP No. 650111107 1 NAMES OF REPORTING PERSONS Farallon Capital Institutional Partners, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [ X ]** ** The reporting persons making this filing hold an aggregate of 9,476,791 Shares, representing 5.8% of the class of securities. The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page. 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION California NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER -0- 6 SHARED VOTING POWER 651,337 7 SOLE DISPOSITIVE POWER -0- 8 SHARED DISPOSITIVE POWER 651,337 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 651,337 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.4% 12 TYPE OF REPORTING PERSON (See Instructions) PN Page 3 of 36 Pages 13G CUSIP No. 650111107 1 NAMES OF REPORTING PERSONS Farallon Capital Institutional Partners II, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [ X ]** ** The reporting persons making this filing hold an aggregate of 9,476,791 Shares, representing 5.8% of the class of securities. The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page. 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION California NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER -0- 6 SHARED VOTING POWER 202,953 7 SOLE DISPOSITIVE POWER -0- 8 SHARED DISPOSITIVE POWER 202,953 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 202,953 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.1% 12 TYPE OF REPORTING PERSON (See Instructions) PN Page 4 of 36 Pages 13G CUSIP No. 650111107 1 NAMES OF REPORTING PERSONS Farallon Capital Institutional Partners III, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [ X ]** ** The reporting persons making this filing hold an aggregate of 9,476,791 Shares, representing 5.8% of the class of securities. The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page. 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER -0- 6 SHARED VOTING POWER 92,352 7 SOLE DISPOSITIVE POWER