New York Times stock hits all-time high after strong quarterly earnings report Email not displaying correctly?
View it in your browser.
Poynter.
The Poynter Report With Senior Media Writer Tom Jones
 

OPINION

 

Amid the media doom and gloom, the Gray Lady (or maybe its cooking app) is thriving

AP Photo/Mark Lennihan, File

New York Times stock hit an all-time high Wednesday after the company announced that it had enjoyed a strong second quarter, growing all of its major revenue streams. 

Times stock was trading at $61.95 a share Wednesday afternoon, up 15.5% from the previous day’s close. Earlier in the day, the Times announced it had ended the second quarter with an adjusted operating profit of $133.8 million. That profit marks a 27.8% increase from the same period last year. 

The Times also grew its subscriber base by roughly 230,000 to 11.88 million last quarter. More than half of those are “bundle subscribers” — a milestone for the Times, which has been trying to increase the number of its users who are subscribed to more than one of its products since those users tend to pay more and remain loyal. 

In reporting a strong quarter, the Times stands out from many media organizations that have struggled to develop sustainable business models during a time when audiences are increasingly relying on social media — and more recently, artificial intelligence — for news and information. 

“We’re confident that we’re well positioned to continue to grow despite the moves of big tech companies which are leading to less and less traffic for publishers,” CEO and president Meredith Kopit Levien said during an earnings call Wednesday. “That’s because we see large and persistent demand for what we do and are becoming more differentiated in meeting that demand.”

The Times grew its revenue 9.7% year-over-year to $685.9 million last quarter. That included increases in digital revenue driven in part by increasing subscription numbers and new advertising supply in areas of strong marketer demand, Kopit Levien said. 

The Times expects its revenue across all categories to increase next quarter. One contributing factor will be the Times’ first AI-related deal, which it announced in May. That involves Amazon paying the Times $20 million to $25 million a year to license the paper’s content, according to The Wall Street Journal. 

The Times is open to doing more deals with AI companies, Kopit Levien told investors. “Our approach to licensing is grounded in sort of three principles: Is it consistent with our long term strategy that we be more essential to more people? Do we see fair value exchange in a way that feels sustainable? And do we have control over how our content is used across the scope of use?”

Meanwhile, the Times is currently locked in a legal battle with Microsoft and Open AI. The paper sued both companies for copyright infringement in 2023, and it spent $3.5 million on litigation-related costs last quarter. 

One major area of focus for the Times is expanding its video content, Kopit Levien said. To that end, the Times has been producing “substantially more” news videos covering major stories and creating more full-length shows like video versions of its podcasts. It has also been creating more video content for its lifestyle products like its Cooking vertical and sports website The Athletic.

By Angela Fu, media business reporter

Stanford student newspaper brings suit over legal basis for student deportations

People walk on the Stanford University campus beneath Hoover Tower in Stanford, Calif., in 2019. (AP Photo/Ben Margot, File)

A new lawsuit filed this week goes further than others that have targeted the arrests of foreign students. New York Times reporter Zach Montague reported that the suit, filed Wednesday by lawyers for the Foundation for Individual Rights and Expression, takes aim at the key legal foundations that the Trump administration has relied on to arrest and attempt to deport foreign students over their criticism of the Israeli government.

The lawyers represent The Stanford Daily, the independent student-run newspaper at Stanford University, and argue that several of its staff members have been forced to self-censor or quit the paper out of fear that the government could retaliate for what it publishes.

“The new suit focuses on a section of immigration law that allows the secretary of state to determine that a noncitizen poses a threat to the country’s foreign policy and can be removed from the country for that reason,” Montague wrote. “It argues that it is unconstitutional to invoke the provisions for speech and other activities protected by the First Amendment.”

In a news release about the suit, FIRE attorney Conor Fitzpatrick stated that, in the United States, no one should fear a midnight knock on the door for voicing the wrong opinion. “Free speech isn’t a privilege the government hands out,” Fitzpatrick said. “Under our Constitution it is the inalienable right of every man, woman, and child.” 

Greta Reich, editor-in-chief of The Stanford Daily, said in a statement that there’s “real fear” on the Stanford campus and it reaches into the student newsroom. “I’ve had reporters turn down assignments, request the removal of some of their articles, and even quit the paper because they fear deportation for being associated with speaking on political topics, even in a journalistic capacity,” Reich said. “The Daily is losing the voices of a significant portion of our student population.”

According to FIRE, plaintiffs in the group’s lawsuit represent the student newspaper and two legal noncitizens with no criminal record who, according to FIRE, “engaged in pro-Palestinian speech and now fear deportation and visa revocation because of their expression.”

According to The Hill, Homeland Security Assistant Secretary Tricia McLaughlin in a statement called the lawsuit “baseless” and “political.”

Poynter reached out to the White House Wednesday afternoon for comment but did not receive a response by deadline.

By Amaris Castillo

The Washington Post’s ‘third newsroom’ is no longer a newsroom. What is it? 

You know those construction site sidewalk signs – “Pardon our dust, but build we must?” The Washington Post’s big hope for a new venture has just passed the one-year mark since its July 2024 announcement. Peek through the little window, though, and there is still not much to see.

Two developments have crystallized what is most problematic about the project. Fact-checker Glenn Kessler in a farewell Substack post Tuesday voiced even more directly than earlier reports a huge newsroom concern.  Is the initiative a good idea or a bad idea? Hard to say when it remains so murky what CEO/Publisher Will Lewis has in mind. The gestation time seems in itself, to be a big sign of trouble (as my colleague Angela Fu reported in Wednesday’s Poynter Report).

Two weeks ago the Post announced a few more details and a pronounced change in direction for WP Ventures, so renamed last December. The former third newsroom will be physically moved from the main newsroom. Krissah Thompson, a veteran editor put in charge then, has taken a buyout.  WP Ventures will now be run by a general manager (Samantha Henig) reporting to Chief of Strategy Suzi Watford. Both are business side product execs, hired within the last year and a half.

Henig and the departing Thompson wrote in a memo to staff: "Going forward, we will focus entirely on building personality-driven content and franchises around personalities in topic areas that are of interest to our target audience of Confident Strivers (a market segmentation term), and with strong commercial opportunities. This could include audio, video, newsletters, and events. We will responsibly embrace AI to tell and promote stories in new ways and at scale on new platforms." Henig and Thompson wrote. 

Seeming to address the pokiness of the project, they also said that WP Ventures "was always intended for continuous evolution and has always been experimental." The big reboot is necessary, they also wrote, because “the industry has shifted.”

Influencer personalities are not my idea of cutting-edge news reinvention, but I do get that the Post could be overreliant on older journalists serving an older audience and needs to replenish with a younger cohort.

If you accept my construction zone analogy there’s some poignancy to the build-we-must part. The Post must find new tricks if it is to right the ship as a business and bridge management’s painful confidence gap with employees. Something successful may yet emerge from the foundation just put in place. Right now, though, it doesn’t look to be much more than a vague embrace of the latest bright and shiny media objects. 

By Rick Edmonds

A third of Wyoming’s counties lose a newspaper in an instant

The Jackson Hole News & Guide reported that the Pinedale Roundup, a 120-year-old newspaper, and several others owned by News Media Corporation announced they were shutting down immediately Wednesday. 

The papers served eight counties, “representing 35% of the state's counties losing one or more newspaper publications from a single owner,” according to the News & Guide.

“This paper has been the heartbeat of the community for 120 years — and now that heartbeat has stopped,” said former managing editor Cali O’Hare. “I think this makes it even harder because I’m aware of the damage this will do. People rely on us for reliable information.”

In a letter to employees, the ownership blamed the closure on “financial challenges, revenue losses, increased expenses, a ‘significant economic downturn impacting our industry,’ “ and the failed sale of the company. O’Hare contended the Roundup property was in solid financial shape. 

By Jennifer Orsi

Media tidbits and links

  • Alexios Mantzarlis of The Indicator writes,  I reviewed 100 of TikTok’s “Footnotes” so you don’t have to. Spoiler alert in the subhead: Most of them were useless.
  • In the wake of Congress’ vote to defund public media, The Washington Post’s Scott Nover with Can NPR do without federal funding? Its CEO says she’s optimistic.
  • And more hopeful framing from public media in this Nieman Lab story: These public radio stations have built online audiences that’ll help them survive federal cuts. Of note: Before the Corporation for Public Broadcasting was defunded, it worked with Poynter for years to help train scores of public media stations in embracing digital audiences and creating digital strategies. More here. 

More resources for journalists

  • Get strategies to find diverse sources, understand systemic barriers and advance mental health equity in your area. Enroll now.
  • Journalism leaders of color: Poynter’s prestigious Diversity Leadership Academy has helped over 200 journalists of color advance their careers. Apply today.
  • Refine your immigration policy expertise with Poynter's Beat Academy. Enroll now.
  • Turn your life story into a memoir in this pioneering virtual workshop led by Poynter's Director of Craft Kristen Hare, featuring accomplished authors as guest instructors. Enroll now.
  • Join a five-day, in-person workshop that gives new managers the skills they need to help forge successful paths to leadership in journalism, media and technology. Apply today.
  • Journalists of color: Join a free four-day workshop at Poynter's waterfront campus, where accepted applicants develop the skills needed to become powerful writers. Apply now.
Poynter.
Help Poynter support journalism, truth and democracy.
GIVE NOW
 
ADVERTISE // DONATE // LEARN // JOBS
Did someone forward you this email? Sign up here.
Facebook Twitter LinkedIn Instagram Reply
Poynter.
The Craig Newmark Center For Ethics and Leadership
International Fact-Checking Network
MediaWise
PolitiFact
© All rights reserved Poynter Institute 2025
801 Third Street South, St. Petersburg, FL 33701

If you don't want to receive email updates from Poynter, we understand.
You can change your subscription preferences or unsubscribe from all Poynter emails.