The NYT Co. was never very receptive to MS' argument that taking the company out of the hands of the Sulzberger family and running it like a normal corporation would help its awful stock price. In fact, the company was downright hostile to that position. Which, from a "quality of journalism" perspective, is probably a good thing. But from an investor's perspective, it's not hard to understand why MS finally decided to cash out.
As of 2:00, NYT Co. stock was down by 3.4%.