Keeping a newspaper afloat in the digital economy is difficult. Leading a newspaper to quadruple its market value in the digital economy is almost unthinkable. However, this is exactly what The New York Times Company CEO Mark Thompson has done.
The Times’ — a publicly traded company — has grown its stock value by over 300% since Thompson took control in 2012 and at a time when countless other city papers across the country have closed. The key, Thompson said, is centered around a business strategy that he says “very few people” in the industry are following.
“Our model is a very simple model which is we should invest in great content,” Thompson said at CNBC’s Evolve event Wednesday in New York City. “The future of journalism is make more journalism ... and then figure out smart ways to put that in front of people and asking them to support that journalism.”