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Activist investor Fivespan takes stake in NY Times, Bloomberg reports

The financiers that led a high-profile activist campaign at the New York Times (NYT) three years ago have now taken a stake in the iconic newspaper company via their new investment firm, Bloomberg’s Crystal Tse reports. Fivespan Partners, the activist investment firm started last year by Dylan Haggart and Sarah Coyne, has built a position in the Times and is pushing it to use artificial intelligence to expand its subscription base, according to a letter to Fivespan investors reviewed by Bloomberg News. The pair led ValueAct Capital Management’s investment at the Times before leaving to open Fivespan.

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