Exhibit 99.2
The New York Times Company Reports Growth in September Revenues
NEW YORK--(BUSINESS WIRE)--Oct. 23, 2007--The New York Times
Company announced today that in September total Company revenues from
continuing operations increased 5.0% compared with the same month a
year ago. Advertising revenues grew 5.5% and circulation revenues rose
4.1%. Advertising revenues for the News Media Group benefited from
strong growth in national advertising, which rose 18.9%, and included
gains in both print and online advertising. The About Group again
posted strong advertising gains in the month, up 39.1%.
All comparisons are for September 2007 to September 2006 unless
otherwise noted:
News Media Group: Advertising revenues for the News Media Group
increased 4.3%.
The New York Times Media Group - Advertising revenues for The New
York Times Media Group increased 11.3%. National advertising
revenues rose due to growth in studio entertainment, financial
services, international fashion, education and hotel advertising.
Retail advertising revenues decreased mainly due to softness in
department store, national chain store and home furnishing store
advertising. Classified advertising revenues decreased because of
weakness in real estate and automotive advertising.
New England Media Group - Advertising revenues for the New England
Media Group decreased 3.8%. National advertising revenues
increased as growth in banking and studio entertainment
advertising offset softer financial services, education and
telecommunications advertising. Retail advertising revenues
decreased primarily due to weakness in the department store,
food/drug, computer/office supply and apparel/footwear categories.
Classified advertising revenues decreased because of softness in
help-wanted, real estate and automotive advertising.
Regional Media Group - Advertising revenues for the Regional Media
Group decreased 12.2%. Retail advertising revenues were down
mainly because of decreases in home furnishing, home improvement,
department store and telecommunications advertising. Classified
advertising revenues decreased due to continued weakness in real
estate, help-wanted and automotive advertising.
Overall classified advertising revenues were affected by lower
real estate classified advertising. The News Media Group's real estate
advertising declined 14.8% in the month, in part due to a nationwide
slowdown in real estate. Excluding the real estate category,
advertising revenues for the News Media Group would have increased
6.7%. Approximately two-thirds of the Regional Media Group's
advertising revenues come from its Florida and California properties,
which have been experiencing particular softness in real estate
advertising.
Internet advertising revenues included in the News Media Group
rose 23.3% in September due to growth in both display and classified
advertising.
Circulation revenues for the News Media Group grew 4.1% in
September. Revenues were up at The New York Times and Regional Media
Groups, and declined at the New England Media Group. In July 2007 The
New York Times raised its newsstand and home-delivery prices.
Last month the Company announced that the content previously
available through TimesSelect - including online access to 23 news and
opinion columnists, personalization tools and access to the Times
archives back to 1987 - would be available free of charge beginning
Sept. 19.
About Group - Advertising revenues at the About Group (which
includes the Web sites of About.com, ConsumerSearch.com,
UCompareHealthCare.com and Calorie-Count.com) rose 39.1%. September's
growth was principally due to increases in both display and
cost-per-click advertising. Display advertising increased primarily
because of strength in the Internet, financial services and retail
categories. In addition, advertising revenues reflect the acquisitions
of ConsumerSearch.com in May 2007 and UCompareHealthCare.com in March
2007. Excluding these acquisitions, advertising revenues increased 29%
in the month.
In addition, The New York Times Company had the 10th largest
presence on the Web, with 44.2 million unique visitors in the United
States according to Nielsen//NetRatings, up approximately 12% from
39.4 million unique visitors in September 2006. Also according to
Nielsen//NetRatings, NYTimes.com had 14.7 million unique visitors and
was the No. 1 newspaper Web site in the United States, a position it
has long held.
The New York Times Company (NYSE: NYT), a leading media company
with 2006 revenues of $3.3 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, 15 other daily
newspapers, WQXR-FM and more than 30 Web sites, including NYTimes.com,
Boston.com and About.com. The Company's core purpose is to enhance
society by creating, collecting and distributing high-quality news,
information and entertainment.
This press release can be downloaded from www.nytco.com
THE NEW YORK TIMES COMPANY
2007 TOTAL COMPANY REVENUES (a)
($ 000's)
- ----------------------------------------------------------------------
September Year to Date
-----------------------------------------------------
% %
2007 2006 Change 2007 2006 Change
-------- -------- ------ ---------- ---------- ------
Advertising
Revenues
News Media
National $94,102 $79,116 +18.9 $662,056 $644,659 +2.7
Retail 34,748 38,893 -10.7 314,180 337,452 -6.9
Classified 39,960 43,962 -9.1 387,735 446,228 -13.1
Other Ad
Revenue 5,176 4,830 +7.2 46,237 46,069 +0.4
-------- -------- ------ ---------- ---------- ------
Total News
Media Group 173,986 166,802 +4.3 1,410,208 1,474,408 -4.4
About Group(b) 7,878 5,663 +39.1 68,216 53,196 +28.2
-------- -------- ------ ---------- ---------- ------
Total Ad
Revenues from
Continuing
Operations 181,864 172,464 +5.5 1,478,425 1,527,604 -3.2
Circulation
Revenues 70,554 67,779 +4.1 664,538 654,993 +1.5
Other
Revenues(c) 21,115 20,189 +4.6 186,359 175,822 +6.0
-------- -------- ------ ---------- ---------- ------
Total Company
Revenues from
Continuing
Operations $273,534 $260,432 +5.0 $2,329,322 $2,358,419 -1.2
======== ======== ====== ========== ========== ======
Discontinued
Operations:
Broadcast Media
Group (d) 0 13,023 N/A 46,702 107,542 N/A
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Includes the Web sites of About.com, ConsumerSearch.com,
UCompareHealthCare.com and Calorie-Count.com.
(c) Primarily includes revenues from wholesale delivery operations,
news services/syndication, digital archives, TimesSelect, Baseline
Studio Systems, rental income and commercial printing.
(d) On May 7, 2007, the Company sold the Broadcast Media Group,
consisting of nine network-affiliated television stations, their
related Web sites and the digital operating center, for approximately
$575 million.
THE NEW YORK TIMES COMPANY
2007 TOTAL COMPANY REVENUES (a)
($ 000's)
- ----------------------------------------------------------------------
Third Quarter
------------------------
%
2007 2006 Change
-------- -------- ------
Advertising Revenues
News Media
National $212,910 $192,002 +10.9
Retail 97,191 104,874 -7.3
Classified 117,157 136,890 -14.4
Other Ad Revenue 14,423 14,250 +1.2
-------- -------- ------
Total News Media Group 441,681 448,015 -1.4
About Group(b) 23,362 17,461 +33.8
-------- -------- ------
Total Ad Revenues from Continuing Operations 465,043 465,476 -0.1
Circulation Revenues 223,420 215,007 +3.9
Other Revenues(c) 65,896 59,103 +11.5
-------- -------- ------
Total Company Revenues from Continuing
Operations $754,359 $739,586 +2.0
======== ======== ======
Discontinued Operations: Broadcast Media
Group (d) 0 36,476 N/A
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Includes the Web sites of About.com, ConsumerSearch.com,
UCompareHealthCare.com and Calorie-Count.com.
(c) Primarily includes revenues from wholesale delivery operations,
news services/syndication, digital archives, TimesSelect, Baseline
Studio Systems, rental income and commercial printing.
(d) On May 7, 2007, the Company sold the Broadcast Media Group,
consisting of nine network-affiliated television stations, their
related Web sites and the digital operating center, for approximately
$575 million.
THE NEW YORK TIMES COMPANY
2007 ADVERTISING REVENUES (a)
($ 000's)
- ----------------------------------------------------------------------
September Year to Date
-----------------------------------------------------
% %
2007 2006 Change 2007 2006 Change
-------- -------- ------ ---------- ---------- ------
News Media Group
New York Times
Media Group $116,753 $104,853 +11.3 $867,774 $885,509 -2.0
New England
Media Group 32,577 33,854 -3.8 289,414 307,569 -5.9
Regional Media
Group 24,657 28,095 -12.2 253,020 281,330 -10.1
-------- -------- ------ ---------- ---------- ------
Total News Media
Group 173,986 166,802 +4.3 1,410,208 1,474,408 -4.4
About Group (b) 7,878 5,663 +39.1 68,216 53,196 +28.2
-------- -------- ------ ---------- ---------- ------
Total Ad
Revenues from
Continuing
Operations $181,864 $172,464 +5.5 $1,478,425 $1,527,604 -3.2
======== ======== ====== ========== ========== ======
Discontinued
Operations:
Broadcast Media
Group (c) 0 12,724 N/A 45,745 105,669 N/A
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Includes the Web sites of About.com, ConsumerSearch.com,
UCompareHealthCare.com and Calorie-Count.com.
(c) On May 7, 2007, the Company sold the Broadcast Media Group,
consisting of nine network-affiliated television stations, their
related Web sites and the digital operating center, for approximately
$575 million.
THE NEW YORK TIMES COMPANY
2007 ADVERTISING REVENUES (a)
($ 000's)
- ----------------------------------------------------------------------
Third Quarter
------------------------
%
2007 2006 Change
-------- -------- ------
News Media Group
New York Times Media Group $271,234 $261,653 +3.7
New England Media Group 91,838 97,424 -5.7
Regional Media Group 78,609 88,938 -11.6
-------- -------- ------
Total News Media Group 441,681 448,015 -1.4
About Group (b) 23,362 17,461 +33.8
-------- -------- ------
Total Ad Revenues from Continuing Operations $465,043 $465,476 -0.1
======== ======== ======
Discontinued Operations: Broadcast Media
Group (c) 0 35,807 N/A
- ----------------------------------------------------------------------
(a) Numbers may not add due to rounding.
(b) Includes the Web sites of About.com, ConsumerSearch.com,
UCompareHealthCare.com and Calorie-Count.com.
(c) On May 7, 2007, the Company sold the Broadcast Media Group,
consisting of nine network-affiliated television stations, their
related Web sites and the digital operating center, for approximately
$575 million.
THE NEW YORK TIMES COMPANY
2007 NEWS MEDIA AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
- ----------------------------------------------------------------------
% Change % Change % Change
Sept. '07 Q3 '07 YTD '07
vs. Sept. '06 vs. Q3 '06 vs. YTD '06
------------------------------------
Help Wanted -10.7 -15.2 -12.0
Real Estate -14.8 -20.8 -18.4
Automotive -15.4 -16.7 -16.9
Other +29.0 +14.7 +10.0
------------------------------------
Total -9.1 -14.4 -13.1
- ----------------------------------------------------------------------
THE NEW YORK TIMES COMPANY
2007 PRINT ADVERTISING VOLUME (a)
(Inches in thousands, Preprints in thousands of copies)
- ----------------------------------------------------------------------
September Year to Date
- ----------------------------------------------------------------------
% %
2007 2006 Change 2007 2006 Change
------- ------- ------ --------- --------- ------
National 209.6 190.6 +9.9 1,567.9 1,663.0 -5.7
Retail 422.8 486.3 -13.1 4,202.8 4,543.2 -7.5
Classified 558.7 724.3 -22.9 6,127.4 7,210.2 -15.0
------- ------- ------ --------- --------- ------
Total ROP 1,191.0 1,401.3 -15.0 11,898.2 13,416.4 -11.3
------- ------- ------ --------- --------- ------
Part Run/ Zoned 139.3 151.7 -8.2 1,250.9 1,458.5 -14.2
------- ------- ------ --------- --------- ------
Total 1,330.3 1,553.0 -14.3 13,149.0 14,875.0 -11.6
======= ======= ====== ========= ========= ======
Preprints 201,940 218,454 -7.6 1,994,956 2,060,764 -3.2
- ----------------------------------------------------------------------
(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.
THE NEW YORK TIMES COMPANY
2007 PRINT ADVERTISING VOLUME (a)
(Inches in thousands, Preprints in thousands of copies)
- ----------------------------------------------------------------------
Third Quarter
- ----------------------------------------------------------------------
%
2007 2006 Change
------- ------- ------
National 495.3 497.0 -0.3
Retail 1,314.2 1,446.0 -9.1
Classified 1,795.6 2,350.4 -23.6
------- ------- ------
Total ROP 3,605.1 4,293.4 -16.0
------- ------- ------
Part Run/ Zoned 386.9 442.7 -12.6
------- ------- ------
Total 3,992.0 4,736.2 -15.7
======= ======= ======
Preprints 641,558 657,709 -2.5
- ----------------------------------------------------------------------
(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.
CONTACT: The New York Times Company
Catherine J. Mathis, 212-556-1981
mathis@nytimes.com
or
Paula Schwartz, 212-556-5224
paula.schwartz@nytimes.com