Exhibit 99.2
The New York Times Company Reports March Revenues
NEW YORK--(BUSINESS WIRE)--April 19, 2007--The New York Times
Company announced today that in March 2007 advertising revenues from
continuing operations decreased 2.3% and total Company revenues from
continuing operations decreased 1.1% compared with March 2006.
All comparisons are for March 2007 to March 2006 unless otherwise
noted:
The New York Times Media Group - Advertising revenues for The New
York Times Media Group decreased 3.7%. National advertising revenues
increased slightly as growth in American fashion, international
fashion, home furnishing manufacturers and alcoholic beverage
advertising offset weakness in the telecommunications, media,
financial services and technology products categories. Retail
advertising revenues decreased as softness in fashion/jewelry,
department store, mass market and sports marketing advertising was
offset in part by strong gains in fine arts advertising. Classified
advertising revenues decreased because of weakness in real estate,
help-wanted and automotive advertising.
New England Media Group - Advertising revenues for the New England
Media Group rose 2.2%. Advertising revenue benefited from the timing
of Easter, in that the Sunday before the holiday was in April in 2006
and in March in 2007, and retail advertising is usually strong on that
Sunday, particularly for preprints. National advertising revenues
increased mainly because of growth in telecommunications, banking,
travel, pharmaceutical/packaged goods and club/concert advertising.
Retail advertising revenues decreased due to the consolidation of the
group's two largest department store advertisers coupled with softness
in the electronics/appliances and computer/office supply categories.
Classified advertising revenues decreased because of weakness in real
estate, automotive and help-wanted advertising.
Regional Media Group - Advertising revenues for the Regional Media
Group decreased 6.8%. Retail advertising revenues increased slightly
as growth in specialty store, media, hospital and grocery advertising
offset weakness in the bank, telecommunications and home furnishing
categories. Classified advertising revenues decreased because of
weakness in help-wanted, real estate and automotive advertising.
The Internet ad revenues included in the three media groups above
rose 19.8% in March due to growth in both display and classified
advertising.
TimesSelect, the fee-based product on NYTimes.com that includes
The Times's distinctive columnists and extensive access to its
archives, currently has approximately 713,000 subscribers with about
62% receiving TimesSelect as a benefit of their home-delivery
subscriptions, 30% receiving it from online-only subscriptions and 8%
receiving it free as college students and educators.
Circulation revenues for March increased 0.5% and were up at The
New York Times Media Group and declined at the New England and
Regional Media Groups.
About.com - Advertising revenues at About.com rose 24.3%. March's
growth was due to increases in both display and cost-per-click
advertising. Display advertising increased primarily because of
strength in the Internet media, financial services and pharmaceutical
categories.
In addition, for March 2007, The New York Times Company had the
12th largest presence on the Web, with 43.5 million unique visitors in
the United States according to Nielsen//NetRatings, up 12% from 39.0
million unique visitors in March 2006.
Discontinued Operations - The Company has entered into an
agreement to sell its Broadcast Media Group, which is now classified
under discontinued operations.
The New York Times Company (NYSE: NYT), a leading media company
with 2006 revenues of $3.3 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, 15 other daily
newspapers, nine network-affiliated television stations, two New York
City radio stations and 35 Web sites, including NYTimes.com,
Boston.com and About.com. The Company's core purpose is to enhance
society by creating, collecting and distributing high-quality news,
information and entertainment.
THE NEW YORK TIMES COMPANY
2007 TOTAL COMPANY REVENUES (a)
($ 000's)
- ----------------------------------------------------------------------
March Year to Date
-----------------------------------------------------
% %
2007 2006 Change 2007 2006 Change
--------- --------- ------ --------- --------- ------
Advertising
Revenues
News Media
National $73,416 $70,871 +3.6 $224,902 $225,458 -0.2
Retail 35,397 36,462 -2.9 107,349 110,920 -3.2
Classified 43,220 49,917 -13.4 136,107 154,007 -11.6
Other Ad
Revenue 4,982 4,892 +1.9 15,236 15,012 +1.5
--------- --------- ------ --------- --------- ------
Total News Media
Group 157,016 162,142 -3.2 483,594 505,397 -4.3
About.com 6,698 5,390 +24.3 21,321 17,288 +23.3
--------- --------- ------ --------- --------- ------
Total Ad Revenues
from Continuing
Operations 163,714 167,532 -2.3 504,915 522,685 -3.4
Circulation
Revenues 68,928 68,582 +0.5 222,454 220,281 +1.0
Other Revenues
(b) 18,884 18,335 +3.0 58,651 56,231 +4.3
--------- --------- ------ --------- --------- ------
Total Company
Revenues from
Continuing
Operations $251,525 $254,449 -1.1 $786,020 $799,197 -1.6
========= ========= ====== ========= ========= ======
Discontinued
Operations:
Broadcast Media
Group (c) 11,351 10,973 +3.4 32,904 31,954 +3.0
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Primarily includes revenues from wholesale delivery operations,
news services/syndication, digital archives, TimesSelect, Baseline
StudioSystems and commercial printing.
(c) On January 3, 2007, we entered into an agreement to sell the
Broadcast Media Group.
THE NEW YORK TIMES COMPANY
2007 ADVERTISING REVENUES (a)
($ 000's)
- ----------------------------------------------------------------------
March Year to Date
-----------------------------------------------------
% %
2007 2006 Change 2007 2006 Change
--------- --------- ---------------- --------- ------
News Media Group
New York Times
Media Group $95,849 $99,581 -3.7 $297,146 $307,811 -3.5
New England
Media Group 32,543 31,832 +2.2 97,242 101,537 -4.2
Regional Media
Group 28,623 30,728 -6.8 89,206 96,049 -7.1
--------- --------- ------ --------- --------- ------
Total News Media
Group 157,016 162,142 -3.2 483,594 505,397 -4.3
About.com 6,698 5,390 +24.3 21,321 17,288 +23.3
--------- --------- ------ --------- --------- ------
Total Ad Revenues
from Continuing
Operations $163,714 $167,532 -2.3 $504,915 $522,685 -3.4
========= ========= ====== ========= ========= ======
Discontinued
Operations:
Broadcast Media
Group (b) 11,138 10,733 +3.8 32,229 31,321 +2.9
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) On January 3, 2007, we entered into an agreement to sell the
Broadcast Media Group.
THE NEW YORK TIMES COMPANY
2007 NEWS MEDIA AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
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% Change % Change
Mar. '07 YTD '07
vs. Mar. '06 vs. YTD '06
------------------------
Help Wanted -14.7 -10.6
Real Estate -19.7 -13.3
Automotive -12.4 -19.0
Other +14.5 +4.1
------------------------
Total -13.4 -11.6
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THE NEW YORK TIMES COMPANY
2007 PRINT ADVERTISING VOLUME (a)
(Inches in thousands, Preprints in thousands of copies)
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March Year to Date
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% %
2007 2006 Change 2007 2006 Change
-------- -------- ------ -------- -------- ------
National 182.0 180.0 +1.1 547.2 581.7 -5.9
Retail 469.5 481.1 -2.4 1,447.2 1,507.0 -4.0
Classified 692.4 754.5 -8.2 2,146.7 2,376.5 -9.7
-------- -------- ------ -------- -------- ------
Total ROP 1,343.8 1,415.6 -5.1 4,141.1 4,465.2 -7.3
-------- -------- ------ -------- -------- ------
Part Run/ Zoned 135.9 147.4 -7.8 406.2 460.5 -11.8
-------- -------- ------ -------- -------- ------
Total 1,479.7 1,563.0 -5.3 4,547.3 4,925.6 -7.7
======== ======== ====== ======== ======== ======
Preprints 235,203 223,106 +5.4 689,543 686,150 +0.5
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(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.
This press release can be downloaded from www.nytco.com
CONTACT: The New York Times Company
Catherine J. Mathis, 212-556-1981
mathis@nytimes.com
OR
Paula Schwartz, 212-556-5224
schwap@nytimes.com