Update: Why I’ve Sold My New York Times Co. Shares


Eleven days after I first raised the subject of the New York Times’ complicated relationship(s) with Apple (follow-up here), I’ve finally received an answer, of sorts. Sadly, the answer wasn’t to the questions I asked.

A PR person from the company, responding to one of several subsequent emails, wrote back today: “No, we are not going to comment.”

This stonewalling — this deliberate statement that the newspaper chooses to be opaque on matters that go to its editorial integrity — is disappointing, but unfortunately not entirely surprising. But it left me with no real choice on a decision I truly hate to make:

I’ve sold my small (300 shares) holding of New York Times Co. stock. I’ll be taking a loss on the transaction, but I’d never expected to make much money, if any, on my purchase in the first place; I bought NYT stock because I wanted to demonstrate my support of quality journalism.

For decades I’ve revered the New York Times. I still believe that it’s loaded with superb journalists. I hope it survives and thrives in a media environment that grows more challenging every day.

Journalism is in enough trouble as it is, and the Times’ challenges are truly daunting. Arrogant non-transparency about basic integrity only makes the situation worse. So I’ll put what money I have left from this already poor investment into something else.

One thought on “Update: Why I’ve Sold My New York Times Co. Shares”

  1. Thanks for raising some important questions about the growing dependencies of news media on technologies over which they have little or no control.

    Already, we’ve seen similar issues raised with limited or blocked access to information that social networks such as Facebook deem “unacceptable.”

    The trend toward businesses such as Apple controlling the flow information ought to send alarm bells ringing to anyone who values unfettered and vigorous public discourse.

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