What this analysis fails to point out is that the NYT company has about 2.3 Billion dollars of liabilities. Instagram is presumably debt free. Thus if you look purely at the market value of the business, instagram is still worth less than one third of the NYT.
People complaining about the troubles of newspapers tend to forget how in the nineties, when newspapers were doing very well, they all got greedy and loaded themselves with large amounts of debt in order to go on monopoly seeking acquisition sprees.
People complaining about the troubles of newspapers tend to forget how in the nineties, when newspapers were doing very well, they all got greedy and loaded themselves with large amounts of debt in order to go on monopoly seeking acquisition sprees.