NYT · CIK 71691
What The New York Times Company told the SEC could break it.
The New York Times's disclosures span its legacy print inputs and its growing platform dependence. Its primary raw materials are newsprint and coated paper — much of it from Domtar — whose prices have historically been volatile and whose supply can be disrupted by natural disasters, paper-grade conversion, transportation, labor, or tariffs, weighing on print results. On the digital side, it relies on third-party platforms for a significant portion of its Wirecutter affiliate-referral and content-licensing revenue while simultaneously competing with those same platforms for product discovery. And while newsprint is currently exempt, expanded or retaliatory tariffs on raw materials, distribution, or outside printing could raise its print costs.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Commodity & input dependence
- newsprint and coated paper price volatility and supply disruptionmedium
NYT's primary raw materials are newsprint and coated paper (purchased from North American/European producers, with a significant portion from Domtar); newsprint prices have historically been volatile and supply can be disrupted by natural disasters, paper-grade conversion, transportation, labor and tariff factors, adversely affecting print operating results.
“The price of newsprint has historically been volatile, and its cost and availability has been affected by various factors, including supply chain disruptions (including as a result of natural disasters and fires) and conversion to paper grades other than newsprint, and may be affected by other disruptions that may affect production or deliveries of newsprint, including transportation issues, labor shortages or unrest and higher tariffs.”
SEC filing →As of 2026
Other disclosures
- dependence on third-party platforms for affiliate-referral & licensing revenue (also competitors)medium
NYT relies on third-party platforms for a significant portion of its affiliate-referral (Wirecutter) and content-licensing revenue, while simultaneously competing with those same platforms for product discovery and recommendation — a dependence-plus-competition dynamic that could pressure those revenue streams.
“Further, we rely on third-party platforms for a significant portion of our affiliate referral and licensing revenue while competing with such platforms for product discovery and product recommendation.”
SEC filing →As of 2026
Regulatory & policy
- tariff exposure on print inputs/distribution (newsprint currently exempt)low
NYT's printing and distribution costs could rise if raw materials, delivery/distribution or outside printing became subject to expanded or retaliatory tariffs — though newsprint is currently exempt from the proposed expansion of US tariffs on goods from Canada (a key newsprint source).
“Our printing and distribution costs have been impacted as a result of this transition, and may be further impacted in the future by higher costs, including those associated with raw materials, delivery and distribution and outside printing, or if they were to become subject to expanded or retaliatory tariffs (though newsprint is currently exempt from the proposed expansion of U.S. tariffs on goods from Canada).”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
Domtar Corporation
“The primary raw materials we use are newsprint and coated paper, which we purchase from a number of North American and European producers. A significant portion of our newsprint is purchased from Domtar Corporation, a large global manufacturer and distributor of paper, market pulp and wood products.”
Cited →
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