Trump is suing the NYT for $15 billion, which is way more than the entire company is worth
President Donald Trump says he’s suing The New York Times, alleging defamation and seeking a whopping $15 billion in damages. In case you’re curious, that sum outstrips the entire market cap of the NYT, which was $9.65 billion as of yesterday’s close. It’s multitudes higher than the $540 million of cash on the company’s balance sheet. And it’s roughly equivalent to the Times’ last 28 quarters of revenue combined.
If you’re wondering whether investors think the lawsuit will eventually wind up gutting the Times, it’s worth noting that NYT stock is down 1.8% in early trading, which shaves about $173 million off its market cap.
Thank goodness, because it would be really tough to lose one of the premier game companies in the US that also has a pretty kickass journalism side hustle.
If you’re wondering whether investors think the lawsuit will eventually wind up gutting the Times, it’s worth noting that NYT stock is down 1.8% in early trading, which shaves about $173 million off its market cap.
Thank goodness, because it would be really tough to lose one of the premier game companies in the US that also has a pretty kickass journalism side hustle.
