NYT Exits Discovery Partnership; Focus on Short Form Video Online

The New York Times, which announced its Q1 earnings today, has also announced that it is extiing out of its TV joint venture with Discovery…The 50 percent stake sale price will be determined by an independent appraiser, who has yet to be named. The Times said the price would be determined by a formula, with a floor of $80 million and a ceiling of $135 million.
Janet Robinson, the Times’ CEO, said in earnings conf call that company decided to focus on short-form programming for distribution on the Internet. “Advertisers are really coveting that,” she said.
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