Boston, MA 01/07/2013 (wallstreetpr) – Shares of The New York Times Company (NYSE:NYT) surged by 1.65 percent to close at $11.06 per share on Friday. The shares of the company had been fluctuating with intraday prices in the range of $10.85 to $11.14 per share during the day and had thereby touched new peaks by end of trading session. The New York Times Company (NYSE:NYT) has a market capitalization of $1.65 billion. The stock opened at $10.85 per share. The share price had readjusted its 52 week high to new level at $11.14 per share and the 52 week low value is at $6.93 per share.
The New York Times Company (NYSE:NYT) operates in the information and multimedia sector at the global level and consists of wide range of business segments such as digital businesses, investments in paper mills, newspapers and also other investments. NYTimes.com and the International Herald Tribune are included in the New York Times Media Group and The New York Times, BostonGlobe.com, Boston.com, the Worcester Telegram & Gazette, Telegram.com, The Boston Globe are included in the New England Media Group. The New York Times Company (NYSE:NYT) had earlier sold off its business divisions such as ConsumerSearch.com, CalorieCount.com, AC/InterActiveCorp and About.com in September 2012.
The New York Times Company (NYSE:NYT) had finally decided to pay off to their Globe division and expects to receive less than 10 percent of the $1.1 billion value. The media services company presently holds institutional investor shareholdings at 75 percent with around 148.87 million shares outstanding in the market. The New York Times Company (NYSE:NYT) had witnessed the exchange of around 3.60 million shares on Friday while the average trading volume of the company is at 1.70 million shares per day.