Exhibit 99.2
The New York Times Company Reports June Revenues
NEW YORK--(BUSINESS WIRE)--July 18, 2006--The New York Times
Company announced today that in June 2006 advertising revenues for the
Company's business units increased 0.7% and total Company revenues
increased 1.2% compared with June 2005.
"To date in July, print advertising has been challenging,
especially in categories such as studio entertainment, automotive and
corporate, where we are experiencing declines," said Janet L.
Robinson, president and CEO. "At the same time, we continue to benefit
from solid gains at our digital properties, particularly About.com."
All comparisons are for June 2006 to June 2005 unless otherwise
noted:
The New York Times Media Group - Advertising revenues for The New
York Times Media Group rose 1.5%. National advertising revenues
increased as strength in banking, financial-B2B/insurance and
telecommunications advertising offset softness in the studio
entertainment, national automotive and hotel ad categories. Retail
advertising revenues decreased due to weakness in department and
fashion apparel store advertising. Classified advertising revenues
declined as softness in automotive and help-wanted advertising offset
solid gains in real estate advertising.
New England Media Group - Advertising revenues for the New England
Media Group decreased 10.0%. National advertising revenues were lower
on softness in national automotive, telecommunications, travel and
entertainment advertising. Retail advertising revenues decreased
largely due to the consolidation of the group's two largest department
store advertisers. Classified advertising revenues decreased because
of weakness in automotive, real estate and help-wanted advertising.
Regional Media Group - Advertising revenues for the Regional Media
Group grew 3.3%. Retail advertising revenues increased as growth in
home improvement and banking advertising offset weakness in
telecommunications advertising. Classified advertising revenues
outpaced last year as strong gains in real estate advertising offset
softer automotive and help-wanted advertising.
The Internet ad revenues included in the three media groups above
increased 22.7% due to continued robust growth in both display and
classified advertising. In the second quarter, Internet ad revenues
rose 25.0%, and year-to-date they increased 24.0%.
TimesSelect, the fee-based product on NYTimes.com that includes
The Times's distinctive columnists and extensive access to its
archives, currently has approximately 513,000 subscribers, with about
63% receiving TimesSelect as a benefit of their home-delivery
subscriptions and 37% receiving it from online-only subscriptions.
Circulation revenues for June were on a par with last year.
Circulation revenues increased at The New York Times Media Group and
the Regional Media Group, but declined at the New England Media Group.
Broadcast Media Group - Advertising revenues grew 10.0% at the
Broadcast Media Group, which benefited from the acquisition of
KAUT-TV. Excluding KAUT-TV, advertising revenues increased 6.3% mainly
due to political advertising.
About.com - Advertising revenues for About.com rose 38.0%. June's
growth was due to significant increases in both cost-per-click and
display advertising. Display advertising increased on growth in the
retail, telecommunications, technology, food, pharmaceutical and
financial ad categories.
Except for the historical information contained herein, the
matters discussed in this press release are forward-looking statements
that involve risks and uncertainties that could cause actual results
to differ materially from those predicted by such forward-looking
statements. These risks and uncertainties include national and local
conditions, as well as competition, that could influence the levels
(rate and volume) of retail, national and classified advertising and
circulation generated by our various markets and material increases in
newsprint prices. They also include other risks detailed from time to
time in the Company's publicly filed documents, including the
Company's Annual Report on Form 10-K for the year ended December 25,
2005. The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
The New York Times Company (NYSE: NYT), a leading media company
with 2005 revenues of $3.4 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, 15 other daily
newspapers, nine network-affiliated television stations, two New York
City radio stations and 35 Web sites, including NYTimes.com,
Boston.com and About.com. The Company's core purpose is to enhance
society by creating, collecting and distributing high-quality news,
information and entertainment.
This press release can be downloaded from www.nytco.com
THE NEW YORK TIMES COMPANY
2006 TOTAL COMPANY REVENUES (a)
JUNE AND YEAR TO DATE
- ----------------------------------------------------------------------
Total Company Revenues
($ 000's)
June Year to Date
-------------------------------------------------------
% %
2006 2005 Change 2006 2005 Change
--------- --------- ------ ---------- --------- ------
Advertising
Revenues
News Media
National(b) $68,356 $68,187 +0.2 $452,657 $456,347 -0.8
Retail(c) 35,876 36,656 -2.1 232,578 235,220 -1.1
Classified(d) 49,137 50,135 -2.0 309,338 304,697 +1.5
Other Ad
Revenue(e) 4,956 4,798 +3.3 31,819 30,323 +4.9
--------- --------- ----------- -----------
Sub-Total 158,324 159,775 -0.9 1,026,393 1,026,587 -0.0
Broadcast
Media 11,617 10,560 +10.0 69,862 66,958 +4.3
--------- --------- ----------- -----------
Sub-Total 169,941 170,335 -0.2 1,096,255 1,093,545 +0.2
About.com 5,809 4,210 +38.0 36,355 12,597 N/A
--------- --------- ----------- -----------
Total
Advertising
Revenues 175,750 174,546 +0.7 1,132,611 1,106,142 +2.4
Circulation
Revenues 67,285 66,868 +0.6 439,986 438,099 +0.4
Other Revenues
(f) 19,996 18,510 +8.0 117,923 106,411 +10.8
--------- --------- ----------- -----------
Total Company
Revenues $263,031 $259,924 +1.2 $1,690,520 $1,650,652 +2.4
========= ========= =========== ===========
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Includes all ad revenue from the International Herald Tribune.
(c) Includes all preprint revenues.
(d) Includes legal advertising.
(e) Primarily includes ad revenue from the Regional Media Group's
magazines.
(f) Primarily includes revenues from wholesale delivery operations,
news services, direct marketing, digital archives, commercial
printing and TimesSelect.
THE NEW YORK TIMES COMPANY
2006 TOTAL COMPANY REVENUES (a)
SECOND QUARTER
- ----------------------------------------------------------------------
Total Company Revenues
($ 000's)
Second Quarter
--------------------------------------
%
2006 2005 Change
------------ ------------ ------------
Advertising Revenues
News Media
National (b) $227,200 $228,305 -0.5
Retail (c) 121,658 121,894 -0.2
Classified (d) 155,331 158,511 -2.0
Other Ad Revenue (e) 16,807 15,751 +6.7
------------ ------------
Sub-Total 520,996 524,460 -0.7
Broadcast Media 38,542 36,355 +6.0
------------ ------------
Sub-Total 559,537 560,815 -0.2
About.com 18,447 11,547 +59.7
------------ ------------
Total Advertising Revenues 577,984 572,363 +1.0
Circulation Revenues 219,705 218,482 +0.6
Other Revenues (f) 61,059 54,224 +12.6
------------ ------------
Total Company Revenues $858,748 $845,069 +1.6
============ ============
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Includes all ad revenue from the International Herald Tribune.
(c) Includes all preprint revenues.
(d) Includes legal advertising.
(e) Primarily includes ad revenue from the Regional Media Group's
magazines.
(f) Primarily includes revenues from wholesale delivery operations,
news services, direct marketing, digital archives, commercial
printing and TimesSelect.
THE NEW YORK TIMES COMPANY
2006 ADVERTISING REVENUES (a)
JUNE AND YEAR TO DATE
- ----------------------------------------------------------------------
Total Company Advertising Revenues
($ 000's)
June Year to date
--------------------------------------------------------
% %
2006 2005 Change 2006 2005 Change
-------- -------- ------ ---------- -------- ------
News Media
Group
New York Times
Media Group(b) $95,895 $94,503 +1.5 $623,856 $613,228 +1.7
New England
Media Group(c) 33,906 37,661 -10.0 210,145 230,586 -8.9
Regional
Media Group 28,524 27,611 +3.3 192,392 182,773 +5.3
-------- -------- ---------- ----------
Sub-Total 158,324 159,775 -0.9 1,026,393 1,026,587 -0.0
Broadcast Media
Group(d) 11,617 10,560 +10.0 69,862 66,958 +4.3
-------- -------- ---------- ----------
Sub-Total 169,941 170,335 -0.2 1,096,255 1,093,545 +0.2
About.com 5,809 4,210 +38.0 36,355 12,597 N/A
-------- -------- ---------- ----------
Total Company
Ad Revenues $175,750 $174,546 +0.7 $1,132,611 $1,106,142 +2.4
========= ========= ========== ===========
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) The New York Times, NYTimes.com, International Herald Tribune and
WQXR-FM.
(c) The Boston Globe, Boston.com and the Worcester Telegram & Gazette.
(d) Beginning in November 2005, includes the results of KAUT-TV,
purchased November 3, 2005. Excluding KAUT-TV, advertising
revenues were up 6.3% in June and up 0.5% year to date.
THE NEW YORK TIMES COMPANY
2006 ADVERTISING REVENUES (a)
SECOND QUARTER
- ----------------------------------------------------------------------
Total Company Advertising
Revenues
($ 000's)
Second Quarter
--------------------------------------
%
2006 2005 Change
------------ ------------ ------------
News Media Group
New York Times Media Group(b) $316,045 $311,762 +1.4
New England Media Group(c) 108,608 121,179 -10.4
Regional Media Group 96,343 91,519 +5.3
------------ ------------
Sub-Total 520,996 524,460 -0.7
Broadcast Media Group(d) 38,542 36,355 +6.0
------------ ------------
Sub-Total 559,537 560,815 -0.2
About.com 18,447 11,547 +59.7
------------ ------------
Total Company Ad Revenues $577,984 $572,363 +1.0
============ ============
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) The New York Times, NYTimes.com, International Herald Tribune and
WQXR-FM.
(c) The Boston Globe, Boston.com and the Worcester Telegram & Gazette.
(d) Beginning in November 2005, includes the results of KAUT-TV,
purchased November 3, 2005. Excluding KAUT-TV, advertising
revenues were up 2.4% in the second quarter.
- ----------------------------------------------------------------------
THE NEW YORK TIMES COMPANY
2006 NEWS MEDIA AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
JUNE, SECOND QUARTER AND YEAR TO DATE
- ----------------------------------------------------------------------
% Change % Change % Change
June '06 Q2 '06 YTD '06
vs. June '05 vs. Q2 '05 vs. YTD '05
--------------------------------------
News Media
Help Wanted -8.9 -9.0 -5.4
Real Estate +13.8 +13.7 +19.9
Automotive -18.3 -16.5 -14.9
- ----------------------------------------------------------------------
THE NEW YORK TIMES COMPANY
2006 PRINT ADVERTISING VOLUME (a)
(Inches in thousands, Preprints in thousands of copies)
JUNE AND YEAR TO DATE
- ----------------------------------------------------------------------
June Year to Date
- ----------------------------------------------------------------------
% %
2006 2005 Change 2006 2005 Change
-------- -------- -------- ---------- ---------- --------
National(b) 173.7 179.6 -3.3 1,166.0 1,183.1 -1.4
Retail 474.8 481.1 -1.3 3,097.2 3,164.0 -2.1
Classified 746.2 751.6 -0.7 4,859.9 4,858.6 +0.0
-------- -------- ---------- ----------
Total ROP 1,394.8 1,412.3 -1.2 9,123.0 9,205.6 -0.9
-------- -------- ---------- ----------
Part Run/
Zoned 184.1 183.3 +0.5 1,015.8 1,065.9 -4.7
-------- -------- ---------- ----------
Total 1,578.9 1,595.6 -1.0 10,138.8 10,271.5 -1.3
======== ======== ========== ==========
Preprints 216,185 222,024 -2.6 1,403,055 1,415,641 -0.9
- ----------------------------------------------------------------------
(a) Advertising volume is based on preliminary internal data, which
may be updated in subsequent reports and may not be indicative of
advertising revenue or operating profit. Numbers may not add due
to rounding.
(b) Includes all ad volume from the International Herald Tribune.
THE NEW YORK TIMES COMPANY
2006 PRINT ADVERTISING VOLUME (a)
(Inches in thousands, Preprints in
thousands of copies)
SECOND QUARTER
- ----------------------------------------------------------------------
Second Quarter
- ----------------------------------------------------------------------
2006 2005 Change
------------ ------------ ------------
National (b) 584.3 594.0 -1.6
Retail 1,590.1 1,604.6 -0.9
Classified 2,483.4 2,518.9 -1.4
------------ ------------
Total ROP 4,657.8 4,717.5 -1.3
------------ ------------
Part Run/ Zoned 555.4 583.7 -4.9
------------ ------------
Total 5,213.2 5,301.3 -1.7
============ ============
Preprints 716,905 727,570 -1.5
- ----------------------------------------------------------------------
(a) Advertising volume is based on preliminary internal data, which
may be updated in subsequent reports and may not be indicative of
advertising revenue or operating profit. Numbers may not add due
to rounding.
(b) Includes all ad volume from the International Herald Tribune.
CONTACT: The New York Times Company
Catherine J. Mathis, 212-556-1981
mathis@nytimes.com
or
Paula Schwartz, 212-556-5224
schwap@nytimes.com