New York Times Valuation Multiples

East Money Information Co Ltd is engaged in securities business, financial e-commerce service business, financial data service business, and Internet advertising service business. It mainly provides paid financial data services, financial e-commerce services, and Internet advertisement services through its Website, eastmoney.com. It generates majority of ots revenue from the securities business.

Reddit operates a social platform organized into user-created communities focused on particular interests. People submit links, text, images and other content, discuss posts and use voting to influence what is displayed. Volunteer moderators establish and enforce rules within individual communities, while the company provides platform-wide systems and policies. Reddit primarily earns revenue from advertising and also licenses access to selected public content and data under commercial agreements. Premium memberships and other services provide additional revenue. The company became publicly listed in 2024 and serves consumers, advertisers, developers and commercial data partners. A person affiliated with Reddit participated as an angel in Flare's 2026 financing, but Reddit Inc. was not announced as a corporate investor.

LY is a leading Japanese internet services conglomerate. Its main services are Yahoo Japan, the oldest portal site in Japan that offers a wide variety of services, such as news, e-commerce, financial information, and Line, a national messenger application. In 2019, the company acquired Zozo, a leading online apparel retailer, to grow its e-commerce business. In 2022, LY consolidated with its wholly owned subsidiary PayPay, the most popular QR code payment service in Japan.

Wolters Kluwer is a global provider of professional information, software solutions, and services in health; tax and accounting; environmental, social, and governance; finance; compliance; and legal. More than 60% of revenue is generated in North America and around 30% is from Europe.

News Corporation is a diversified media and information services conglomerate with significant presence in the US, the UK, and Australia. Key mastheads include The Wall Street Journal, Barron's, New York Post, The Times, The Sun, The Australian, Herald Sun, and The Daily Telegraph. Its 61%-owned REA Group is the dominant property listings platform in Australia. In addition, it owns Harper Collins, one of the largest book publishers in the world, and has a sizable US digital property advertising business, Move. The 65% interest in Foxtel, the Australian pay-TV and streaming provider, was sold in April 2025. The sale to global sports streaming platform, DAZN, was struck at more than 7 times Foxtel's EBITDA.

Informa PLC is an international events, digital services, and academic research group. Through various brands, products, and services, it connects businesses and professionals with the knowledge they need. The group's reportable segments are Informa Markets, Informa Tech, Informa Connect, Informa Festivals, and Taylor & Francis. The Informa Markets segment generates the highest revenue, connecting buyers and sellers across various specialist markets, including boating, pharmaceuticals, food, fashion, and infrastructure. This is achieved by delivering transaction-focused live events, such as exhibitions, specialist digital content, and targeted digital services, including data-driven demand generation products. It generates half its revenue from North America, followed by Asia.

Kakao Corp is a technology and platform company engaged in digital services, content, mobility, and financial technology businesses. The company operates through seven reportable segments. The Kakao segment provides advertising and platform-based service offerings. The Kakao Games segment covers game development, publishing, and related services. The Kakao Entertainment segment focuses on entertainment planning and content production, and distribution. Kakao Mobility offers database-based information provision services, while Kakao Pay provides mobile platform-based financial services. Kakao Piccoma operates a platform for webtoon and web-novel supply, and the SM Entertainment segment engages in entertainment planning and content production.

Pearson is a British education and assessment company headquartered in London, listed on the London Stock Exchange as a FTSE 100 constituent with a secondary New York Stock Exchange listing through American depositary receipts. It is organised into five business units: Assessment & Qualifications, Virtual Learning, English Language Learning, Higher Education, and Enterprise Learning and Skills. It owns Edexcel, one of the main GCSE and A-level examination boards in England, and sells learning materials, assessments, qualifications, virtual schooling and digital learning products to schools, universities, governments, employers and individual learners. In 2025 it reported revenue of £3,577 million, operating income of £507 million and an average workforce of 17,062. The company traces its origins to 1844, when Samuel Pearson set up the business that became S. Pearson & Son; in the twentieth century it built a publishing and media portfolio that included the Financial Times, a 50% stake in The Economist and Penguin Books. Under Marjorie Scardino it refocused on education, forming Pearson Education in 1998, and between 2015 and 2020 it sold the Financial Times, its Economist stake and its remaining stake in Penguin Random House. Omar Abbosh, formerly of Microsoft, has been chief executive since January 2024.

M3 Inc is a Japan-based company engaged in providing medical-related services through internet-based platforms and real-world operations. The company operates six reportable segments: Medical Platform, Evidence Solutions, Career Solutions, Site Solutions, Patient Solutions, and Overseas. Its businesses include online marketing for medical professionals, clinical trial support, human resources services for medical professionals, operational support for medical institutions, and patient support services. The Overseas segment offers similar services internationally, including in the United States, the United Kingdom, China, South Korea, India, France, Germany, and Spain.

Doximity Inc is a digital platform for U.S. medical professionals. The cloud-based platform provides members with tools specifically built for medical professionals, enabling them to collaborate with their colleagues, securely coordinate patient care, conduct virtual patient visits, stay up-to-date with the latest medical news and research, and manage their careers and on-call schedules.

Kakaku.com Inc. is a Japan-based internet company operating various web services. The company operates through four segments. The Incubation Business includes real estate and housing site Smity, travel review site Fort Travel, movie information site Movie.com, automotive site web CG, dynamic package systems, and the bus comparison site Bus Comparison Navi. The Job Box Business operates the job search site Job Box and job information site Jobcube. The Kakaku.com Business operates the purchasing support site Kakaku.com and engages in insurance services through Kakaku.com Insurance Co., Ltd. The Tabelog Business operates the restaurant search and reservation site Tabelog. It generates the majority of its revenue from the Tabelog business segment.

Springer Nature AG & Co KGaA is a research, educational, and professional publisher providing content to communities through a range of platforms, products, and services. It offers journals, books, platforms, databases & and solutions. The company includes three Segments: Research, Education, and Health. The company operates in the Americas, APAC, Germany, and Other EMEA regions. The majority of revenue is generated from the research segment in America.

Kadokawa Corp is a Japan based publisher and digital content platform provider. It is involved in various businesses such as publishing, film, publishing rights, digital contents, planning, development and operation of network entertainment service, and contents and operation of video- sharing website.

Jiangsu Phoenix Publishing & Media Corp Ltd is a China-based publishing company. The company operates four segments. The Publishing segment covers the publishing and distribution of textbooks, teaching aids, general books, audio-visual products, and vocational education software. The Issuing Division handles the wholesale and retail of teaching materials, teaching aids, general books, audio-visual products, and cultural supplies. The Other segment includes new media businesses such as software development, film and television production, digital asset management, cloud services, and investment management. The Headquarters segment oversees distribution management, procurement, settlement, group publication distribution, textbook bidding, and publishing business management.

IAC Inc is comprised of businesses, including Angi Inc, Dotdash Meredith, and Care.com, among many others, ranging from early-stage to established businesses. Its Dotdash Meredith segment consists of its Digital and Print businesses. Care.com segment is an online destination for families to connect with caregivers for their children, aging parents, pets, and homes, and for caregivers to connect with families seeking care services. Search segment consists of a collection of websites providing general search services and information, and a Desktop business, which includes business-to-business partnership operations.

RUM Group Inc focused is to maximize the power of human imagination through an independent technology ecosystem built on privacy, resilience, and an open alternative to Big Tech. Rumble gives human creativity a voice, a video and media platform built for creators and audiences who value free expression. Quake AI is a cloud and AI-infrastructure business, delivering the compute, data-center capacity, and blockchain infrastructure for the agentic era.

Xinhua Winshare Publishing & Media Co Ltd is engaged in integrated cultural operations specializing in the creative content production of publications, education services, cultural consumption services, supply chain services, and capital operation. Its activities are editorial and publishing of publications, sales of publications in physical stores and the internet, distribution of textbooks and supplementary materials, education information and equipment services, etc. It is through two operating segments; the Publication segment, which includes publishing books, periodicals, and audiovisual products, and the Distribution segment, which comprises the distribution of textbooks and supplementary materials. The group generates a majority of its revenue from the Distribution segment.

Lagardere SA is in the business of content publishing, production, broadcasting, and distribution. It is also engaged in the travel retail business with various brands such as Relay and Aelia Duty-Free, and other selective distribution brands. The company operates through divisions: Lagardere Publishing, Lagardere Travel Retail, and others.

China South Publishing & Media Group Co Ltd operates in the publishing and media industry. The company offers publishing products, including books, newspapers, periodicals, audio and video products, electronics, network, comic, and animation.

People.cn Co Ltd is engaged in Advertising and promotion services, mobile value-added services, information services and technical services.

China Literature Ltd is an investment holding company. The company along with its subsidiaries provides online reading services, copyright commercialization, writer cultivation and brokerage, and operation of text work reading. It generates its revenue from Online reading through self-owned platform products. it operates in two segments: Online business and Intellectual property operations and others. The Online business segment that derives the majority of revenue comprises online paid reading, online advertising, and game publishing. The Intellectual property operations and other segment include licensing and distribution of film and television properties, copyrights licensing, sales of adaptation rights and scripts, sales of physical books, and in-house online games operations.

China Science Publishing & Media Ltd is a China based company engaged in providing publishing services. It offers books, journals, newspapers, literature and data, online publishing, import and export and printing services. For overseas distribution, the company uses Science Press brand.

Zhejiang Publishing & Media Co Ltd is engaged in the publication, distribution and printing of books, periodicals, audio-visual products and electronic publications.

Trump Media & Technology Group Corp is a media and technology company rooted in social media, digital streaming, information technology infrastructure, and more. Its initial product launch will focus on its social media platform, Truth Social, which encourages an open, free, and honest conversation without discriminating against political ideology.

McGraw Hill is an American education company that publishes curriculum and course materials and sells adaptive learning software to schools, universities and professionals. Its roots go back to 1888, when James H. McGraw bought the American Journal of Railway Appliances, and to the 1909 merger of his and John A. Hill's publishing operations into the McGraw-Hill Book Company. The K-12 business provides core, supplemental and intervention curricula to US schools; Higher Education sells digital courseware such as the Connect platform and the ALEKS adaptive learning system alongside e-books and print materials; Global Professional serves medical and engineering learners; and International sells in more than 100 countries. The McGraw-Hill Companies sold the education business to Apollo Global Management for $2.4 billion in 2013, Platinum Equity bought it for $4.5 billion in 2021, and it completed an initial public offering on the New York Stock Exchange under the ticker MH on 24 July 2025. The company reports about $2.2 billion of annual revenue and 4,200 employees, and digital products generated about 61% of revenue in the first quarter of fiscal 2026. It is headquartered in Columbus, Ohio and led by chief executive Philip Moyer.

Founded in 2008 as a media content platform, Autohome is the leading online automobile platform in China, ranking first among automotive service platforms in terms of mobile daily active users, according to QuestMobile. Through its two websites, autohome.com.cn and che168.com, Autohome delivers comprehensive, independent, and interactive content and tools to automobile consumers as well as a full suite of services to automakers and dealers. According to iResearch, the company was the largest online automotive advertising and lead-generation service provider in China's online auto platform media advertising market, in terms of media services and lead-generation revenue.

John Wiley & Sons Inc is a publisher and a trusted leader in research and learning. The company segment includes: Research, which includes the reporting lines of Research Publishing and Research Solutions, and Learning includes the Academic and Professional reporting lines and consists of publishing, courseware, and assessments. Its industry-principal content, services, platforms, and knowledge networks are tailored to meet the evolving needs of its customers and partners, including researchers, students, instructors, professionals, institutions, and corporations. The company empowers knowledge-seekers to transform today’s obstacles into tomorrow’s brightest opportunities. For more than two centuries, the company has been delivering on its timeless mission to unlock human potential.

Shandong Publishing & Media Co Ltd provides publishing services. The company owns and manages publishing houses, periodical presses, printing enterprises, printing materials company, and logistics company. Geographically, the activities are carried out through China.

TX Group AG is a Swiss company with a network of digital platforms. It offers information, orientation, entertainment, and services to its users every day. The company provides newspapers and magazines. The company's operating segments include TX Markets; Goldbach; 20 Minuten; Tamedia and Group and Ventures. It generates maximum revenue from the Tamedia segment.

Xinhuanet Co Ltd operates in the internet content and information industry. It owns and manages a news information service portals in China. Its business activities are divided into the following: online advertising, information services, website construction, technical services and mobile internet. Its online advertising business provides full-screen shrink, rear projection, streaming media and other forms of advertising. Its information services include multimedia information services and big data intelligent analysis services. The website construction and technical service business engage in website construction, content management and operation. The mobile internet business provides mobile internet content information services through text, images, voice, video and other forms.

Louis Hachette Group is engaged in Publishing, Travel Retail and Magazines and Online Media.

Ziff Davis Inc is a digital media and internet company operating a portfolio of brands across technology, shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity. The company has five reportable segments. The Technology & Shopping segment generates revenue from advertising and commerce content. The Gaming & Entertainment segment provides content, subscriptions, and digital storefront services. The Health & Wellness segment offers digital tools and content for health management. The Connectivity segment provides data and analytics solutions for network performance. The Cybersecurity & Martech segment delivers cloud-based software for security and marketing. It generates the majority of its revenue from the Health & Wellness segment.

Sanoma Oyj is a learning and media company. The group publishes magazines and newspapers along with educational learning literature and services. It operates in two segments: Learning and Media Finland. Sanoma's learning products and services enable teachers to develop the talents of every child to reach their full potential. The company offers printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education. The Finnish media business of Sanoma provides information, experiences, inspiration, and entertainment via multiple media platforms: newspapers, radio, television, events, magazines, online, and mobile channels. The company's publications include Helsingin Sanomat, IltaSanomat among others.

China Publishing & Media Holdings Co Ltd is a specialized and large-scale publishing group. The company's publishing business mainly includes book publishing, newspaper publishing, electronic audio and video publishing and related copyright business.

Visual China Group Co Ltd is engaged in providing digital visual content and visual solutions to customers in media, commercial, and consumer sectors. It services include Copyright removal, rights protection agent, Sports, Entertainment and Digital marketing, and Special shooting.

Anhui Xinhua Media Co Ltd operates as a publishing and printing company in China. Its businesses include publication and distribution logistics services, import and export business, real estate development, advertising, film and television media, hotel management, financing lease, e-commerce and other fields.

Chinese Universe Publishing And Media Co Ltd are engaged in the publishing, printing, and distribution of materials, newspapers, periodicals, and audiovisual publications in China. A company extends is business in new media and online education, Internet games, digital publishing, Internet of Things technology applications, international copyright transactions.

New Guomai Digital Culture Co Ltd is a China telecom company. It is engaged in Internet video content applications, games, digital reading, digital animation and new media, application distribution, point operations, business travel booking and hotel operation management.

Webtoon Entertainment Inc is a storytelling platform where a vibrant community of creators and users discover, create and share new content. It has pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication connecting creators with active users around the world.

Changjiang Publishing & Media Co Ltd is engaged in the publication and media industry, as well as the manufacturing of clothing and other fiber products.

Alma Media Oyj is a media and service company focusing on digital services and publishing. In addition to news content, the Group's products provide useful information related to lifestyle, career, and business development. The business segments include Alma Career, Alma Marketplaces, and Alma News Media. It generates maximum revenue from the Alma Career segment. The group's business is mainly divided into two geographical areas, Finland from where it earns the majority of its revenue, and the rest of Europe.

Inmyshow Digital Technology (Group) Co Ltd is engaged in providing broadcasting services. It covers sports broadcasting like football live, basketball live, football videos, basketball videos, sports news, team database services, and others.

Trustpilot Group PLC and its subsidiaries consist of developing and hosting an online review platform that helps consumers make purchasing decisions and businesses showcase and improve their services. Trustpilot is open, independent, and impartial and helps consumers make the right choices and businesses to build trust, grow and improve. The group consists of more than 300 million reviews and approximately 64 million monthly active users across the globe, with around 140 billion annual Trustbox impressions.

Saudi Research And Media Group is an integrated publishing group based in Saudi Arabia, engaged in trading, media, advertising, promotions, distribution, printing and publishing, and public relations. It operates mainly in the Middle East, Europe, and North Africa. The company has four operating segments; Publishing, visual, and digital content segment, the Public relations and advertising segment, the Printing and packaging segment, and All other segments. The company derives a majority of its revenue from the Publishing, visual, and digital content segment.

USA Today Co Inc is a diversified media company with expansive reach at the national and local level, dedicated to empowering and enriching communities. It prioritizes a digital-first approach, focusing on audience growth and engagement while diversifying revenue streams. Through its trusted brands, including the USA TODAY NETWORK, comprised of the national publication, USA TODAY, and local media organizations, including a network of local properties, in the United States, and Newsquest, a wholly-owned subsidiary operating in the United Kingdom, provide essential journalism, local content, and digital experiences to audiences and businesses. Its digital marketing solutions brand, LocaliQ, supports small and medium-sized businesses with digital marketing products and solutions.

Sonaecom SA is engaged in technology, media and telecommunications . The business portfolio includes the Software and Technology area, with Bright Pixel Capital the Online & Media area where there are businesses such as the Publico daily, generalist newspaper. Its segments include NOS, Media segment derives revenue from Advertising revenues: essentially include the solicitation of advertising for Jornal Publico; and Technologies segment which derives revenue from Maintenance services revenue associated with the maintenance of IT services provided or sold, Consulting services revenue from services provided in consulting projects, and Software as a Service revenue from the implementation of Software as a Service (SaaS) contracts. Geographically, it derives majority revenue from Portugal.

Saregama India Ltd is a holding company, which engages in the production and distribution of music, television programs, and movies. It operates through the following segments: Music, Films/TV Serials, and Publication. The Music segment deals with the business of manufacturing and sale of Music storage devices viz. Carvaan, Music Card, etc, and dealing with related music rights. The Films/TV Serials and Event segment engaged in the production and sale/telecast/broadcast of films/TV Serials, pre-recorded programs, organizing live musical events, and dealing in film rights. The Publication segment publishes the weekly current affairs magazine ‘OPEN’ through its publication business. The firm derives a majority of its revenue from the Music segment.

Shanghai Ganglian E-Commerce Holdings Co Ltd is an integrated IT service provider which specializes in supplying steel info services, network technology, E-Commerce services and logistic management software for metallurgic enterprises.