8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported): July 14, 2004

The New York Times Company

(Exact name of registrant as specified in its charter)

New York	1-5837	13-1102020
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
229 West 43d Street, New York, New York		10036
(Address of principal executive offices)		(Zip Code)
Registrant’s telephone number, including area code: (212) 556-1234

ITEM 7. Financial Statements and Exhibits

The following exhibits are furnished pursuant to Item 12:

Exhibit 99.1	The New York Times Company Earnings Press Release dated July 14, 2004
Exhibit 99.2	The New York Times Company June Revenues Press Release dated July 14, 2004

ITEM 12.  Results of Operations and Financial Condition

On July 14, 2004, The New York Times Company issued a press release announcing the Company’s earnings for the quarter ended June 27, 2004.  On July 14, 2004, the Company also issued a press release announcing the Company’s revenues for June 2004.  Copies of these press releases are furnished with this report as exhibits to this Form 8-K.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	THE NEW YORK TIMES COMPANY
Date:  July 14, 2004	By:	/s/ Rhonda L. Brauer
		Rhonda L. Brauer
		Secretary and Senior Counsel

2

EX-99.1

Exhibit 99.1

Press Release

Contacts:	Catherine J. Mathis, 212-556-1981; E-mail:  mathis@nytimes.com
	Paula Schwartz, 212-556-5224;E-mail:  schwap@nytimes.com
	This press release can be downloaded from www.nytco.com

THE NEW YORK TIMES COMPANY

REPORTS IMPROVED SECOND-QUARTER RESULTS

NEW YORK, July 14, 2004 – The New York Times Company announced today that second-quarter diluted earnings per share were up 6.4 percent to $.50 compared with $.47 in the 2003 second quarter, and net income was up 3.9 percent to $75.7 million compared with $72.8 million in the second quarter last year.

“Our second-quarter financial performance reflects improved advertising revenues at each of our business segments, most notably in the recruitment category,” said Russell T. Lewis, president and chief executive officer.  “However, the pace of advertising revenue growth slowed throughout the period, and this trend has continued in July.  We responded in the second quarter with additional cost containment measures and will continue to do so throughout the balance of the year.

“Accordingly, our earnings per share guidance for 2004 remains unchanged.  But based on the rate of ad revenue growth we experienced during the first half, we are adjusting our full-year ad revenue growth guidance down from the mid-single digits to the low- to mid-single digits.  Also, given our expense performance to date, we are adjusting our full-year expense growth rate down from the mid-single digits to the low- to mid-single digits.

“While we still expect a better advertising revenue environment to develop during the second half of 2004, we will continue to assiduously control our expenses in order to achieve full-year earnings growth.”

Revenues

Total revenues for the Company rose 2.7 percent to $823.9 million compared with $801.9 million in the second quarter of 2003.  Advertising revenues (67 percent of total revenues) grew 3.9 percent and circulation revenues (27 percent of total revenues) were at approximately the same level as they were in the second quarter last year.

Costs and Expenses

Total costs and expenses in the second quarter increased 3.0 percent to $692.2 million from $671.8 million in the 2003 second quarter, mainly because of higher newsprint expense and an increase in compensation, outside printing and distribution costs.

Newsprint expense rose 5.9 percent in the second quarter compared with the 2003 second quarter, due to a 7.2 percent increase from higher prices, partially offset by a 1.3 percent decrease from lower consumption.

Operating Profit

Operating profit in the second quarter increased 1.3 percent to $131.8 million from $130.1 million in the second quarter of 2003, primarily because of an increase in advertising revenues.

EBITDA

EBITDA (earnings before interest, taxes, depreciation and amortization) in the second quarter increased 2.9 percent to $172.5 million from $167.6 million in the 2003 second quarter, mainly because of higher advertising revenues as well as an increase in net income from joint ventures.

The Company believes that EBITDA, a non-GAAP financial measure, is a useful metric for evaluating its financial performance because of its focus on the Company’s results from operations before depreciation and amortization.  EBITDA is a common alternative measure of performance used by investors, financial analysts and rating agencies.  These groups use EBITDA, along with other measures, to estimate the value of a company and evaluate a company’s ability to meet its debt service requirements.  A reconciliation of EBITDA to net income, as well as additional information concerning EBITDA, is included in the exhibits to this release.

Newspaper Group

Total Newspaper Group revenues grew 1.7 percent in the second quarter to $758.5 million from $745.9 million in the prior-year quarter.  Advertising revenues increased 2.3 percent in the second quarter primarily because of higher advertising rates, and circulation revenues were at approximately the same level as they were in the second quarter last year.

Operating profit for the Newspaper Group decreased 2.5 percent to $123.4 million in the second quarter from $126.6 million in the 2003 second quarter.  Higher advertising revenues were more than offset by higher newsprint expense and increased compensation, outside printing and distribution costs.

Broadcast Group

Broadcast Group revenues rose 10.7 percent in the second quarter to $42.0 million from $37.9 million in the same period in 2003.  Operating profit increased 25.8 percent to $12.9 million in the second quarter from $10.3 million in the 2003 second quarter, primarily because of increased political advertising revenues ($3.4 million in the second quarter of 2004 compared with $1.0 million in the same quarter last year).

New York Times Digital

Revenues for New York Times Digital grew 26.7 percent in the second quarter to $27.4 million from $21.6 million in the 2003 second quarter, and operating profit more than doubled to $8.9 million from $4.3 million, primarily because of higher advertising revenues resulting from increased volume.

Joint Ventures

Net income from joint ventures was $2.7 million in the second quarter compared with $0.7 million in the second quarter of last year, primarily because of more favorable results at most of the properties in which the Company has equity interests.

2

Income Taxes

The Company’s effective income tax rate for the second quarter was 39.5 percent, the same as in the second quarter of 2003.

Interest Expense-net, Shares, Cash and Total Debt

Interest expense-net, in the second quarter decreased to $10.4 million from $11.5 million in the second quarter of 2003, mainly due to lower levels of debt outstanding and higher levels of capitalized interest.

In the second quarter, the Company repurchased 1.2 million shares at a cost of $54.6 million.  Approximately $377.6 million remains from the Company’s current share repurchase authorization at the end of the second quarter.  Class A and Class B common shares outstanding at the end of the quarter totaled 148.2 million shares.

As of June 27, 2004, the Company’s cash and cash equivalents were approximately $44 million and total debt was approximately $869 million.

2004 Guidance Based on GAAP

Item	Previous 2004 Guidance	Updated 2004 Guidance
Total Company Advertising Revenues	Growth rate expected to be in the mid-single digits	Growth rate expected to be in the low- to mid-single digits
Newspaper Group Circulation Revenues	Growth rate expected to be in the low-single digits	Growth rate expected to be in the low-single digits
Newsprint Cost Per Ton	Growth rate expected to be in the low teens	Growth rate expected to be in the low teens
Total Company Expenses	Growth rate expected to be in the mid-single digits	Growth rate expected to be in the low- to mid-single digits
Depreciation & Amortization	$145 to $150 million	$145 to $150 million
Capital Expenditures(a)	$220 to $250 million	$220 to $250 million
Net loss from Joint Ventures	Breakeven to a loss of $5 million	Breakeven to a loss of $5 million
Interest Expense	$47 to $52 million	$42 to $46 million
Tax Rate	39.5%	39.5%
Diluted Earnings Per Share	Growth rate expected to be in the low- to mid-single digits over 2003 EPS of $1.98	Growth rate expected to be in the low- to mid-single digits over 2003 EPS of $1.98

(a)Due to delays, costs in 2004 related to the Company’s interest in a new headquarters are now expected to be lower than our earlier guidance of $110 to $120 million.  However, total capital expenditure guidance for the year remains unchanged as the Company has moved up the timing of certain projects.  The Company still expects to occupy its new headquarters in 2007.

3

Conference Call Information

The Company’s second-quarter earnings conference call will be held on Wednesday, July 14, at 11 a.m. E.T.  The live webcast will be accessible through the Investors section of the Company’s Web site, www.nytco.com, and other Web services including CCBN’s Individual Investor Center and CCBN’s StreetEvents for institutional investors.

To access the call, dial 800-406-5345 (in the U.S.) and 913-981-5571 (international callers) at least 10 minutes prior to the scheduled start of the call.  In addition, a replay of the call will be available online at www.nytco.com.  A replay of the call will also be available at 888-203-1112 (in the U.S.) and 719-457-0820 (international callers) beginning approximately two hours after the call until 5 p.m. E.T. on Friday, July 16.  The access code is 651274.

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 the Company’s 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 period ended December 28, 2003.  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 2003 revenues of $3.2 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com.  For the fourth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune’s 2004 list of America’s Most Admired Companies.  The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

# # #

Exhibits:	Condensed Consolidated Statements of Income
	Segment Information
	Newspaper Group Revenues by Division
	Footnotes

4

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

Statements of Income are prepared in accordance with accounting

principles generally accepted in the United States of America (GAAP).

(Dollars and shares in thousands, except per share data)

	Second Quarter						Six Months
	2004		2003		% Change		2004			2003			% Change
Revenues
Advertising	$	551,511	$	530,564	3.9	%	$	1,080,538		$	1,043,718		3.5	%
Circulation	220,156		221,304		-0.5	%	440,399			442,305			-0.4	%
Other (a)	52,264		50,023		4.5	%	104,938			99,608			5.4	%
Total	823,931		801,891		2.7	%	1,625,875			1,585,631			2.5	%
Costs and expenses	692,174		671,834		3.0	%	1,384,956			1,333,279			3.9	%
Operating profit	131,757		130,057		1.3	%	240,919			252,352			-4.5	%
Net income/(loss) from joint ventures	2,734		694			*	(559		)	(5,518		)	-89.9	%
Interest expense - net	10,353		11,484		-9.8	%	20,673			23,286			-11.2	%
Other income (b)	1,250		1,250		0.0	%	2,500			10,777			-76.8	%
Income before income taxes and minority interest	125,388		120,517		4.0	%	222,187			234,325			-5.2	%
Income taxes	49,538		47,606		4.1	%	87,777			92,552			-5.2	%
Minority interest in net income of subsidiaries (c)	173		82			*	298			98				*
Net Income	$	75,677	$	72,829	3.9	%	$	134,112		$	141,675		-5.3	%
Average Number of Common Shares:
Basic	148,626		150,730		-1.4	%	149,275			151,287			-1.3	%
Diluted	150,902		153,403		-1.6	%	151,673			154,001			-1.5	%
Basic Earnings Per Share	$	0.51	$	0.48	6.3	%	$	0.90		$	0.94		-4.3	%
Diluted Earnings Per Share	$	0.50	$	0.47	6.4	%	$	0.88		$	0.92		-4.3	%
Dividends Per Share	$	0.155	$	0.145	6.9	%	$	0.300		$	0.280		7.1	%

* Represents percentages that are not meaningful.

See footnotes page for additional information.

5

THE NEW YORK TIMES COMPANY

SEGMENT INFORMATION

Revenues, Operating Profit (Loss) and Depreciation & Amortization

are prepared in accordance with GAAP.

(Dollars in thousands)

	Second Quarter								Six Months
	2004			2003			% Change		2004			2003			% Change
Revenues
Newspapers	$	758,468		$	745,915		1.7	%	$	1,503,280		$	1,480,966		1.5	%
Broadcast	41,971			37,926			10.7	%	77,026			70,131			9.8	%
New York Times Digital	27,396			21,626			26.7	%	53,133			41,251			28.8	%
Intersegment eliminations (d)	(3,904		)	(3,576		)	9.2	%	(7,564		)	(6,717		)	12.6	%
Total	$	823,931		$	801,891		2.7	%	$	1,625,875		$	1,585,631		2.5	%
Operating Profit (Loss)
Newspapers	$	123,431		$	126,575		-2.5	%	$	228,377		$	252,175		-9.4	%
Broadcast	12,939			10,289			25.8	%	19,384			15,251			27.1	%
New York Times Digital	8,934			4,285			108.5	%	17,325			7,481			131.6	%
Corporate	(13,547		)	(11,092		)	22.1	%	(24,167		)	(22,555		)	7.1	%
Total	$	131,757		$	130,057		1.3	%	$	240,919		$	252,352		-4.5	%
Depreciation & Amortization
Newspapers	$	30,640		$	29,352		4.4	%	$	61,054		$	60,315		1.2	%
Broadcast	2,395			2,325			3.0	%	4,792			4,563			5.0	%
New York Times Digital	932			1,299			-28.3	%	1,963			2,832			-30.7	%
Corporate	3,113			2,802			11.1	%	6,132			5,597			9.6	%
Total	$	37,080		$	35,778		3.6	%	$	73,941		$	73,307		0.9	%

See footnotes page for additional information.

6

THE NEW YORK TIMES COMPANY

NEWSPAPER GROUP REVENUES BY DIVISION

Revenues are prepared in accordance with GAAP.

(Dollars in thousands)

	2004
	Second Quarter		% Change vs. 2003		Six Months		% Change vs. 2003
The New York Times Newspaper Group (e)
Advertising	$	287,690	2.3	%	$	570,833	0.8	%
Circulation	153,158		-2.3	%	305,501		-2.2	%
Other	32,995		0.0	%	66,567		2.6	%
Total	$	473,843	0.6	%	$	942,901	0.0	%
New England Newspaper Group (f)
Advertising	$	116,234	0.2	%	$	225,220	2.2	%
Circulation	45,646		6.3	%	90,382		6.2	%
Other	9,908		23.0	%	18,881		16.1	%
Total	$	171,788	2.9	%	$	334,483	4.0	%
Regional Newspaper Group (g)
Advertising	$	86,916	5.2	%	$	172,041	5.1	%
Circulation	21,352		-1.1	%	44,516		-1.0	%
Other	4,569		23.8	%	9,339		25.6	%
Total	$	112,837	4.5	%	$	225,896	4.5	%
Total Newspaper Group
Advertising	$	490,840	2.3	%	$	968,094	1.9	%
Circulation	220,156		-0.5	%	440,399		-0.4	%
Other (a)	47,472		6.1	%	94,787		7.0	%
Total	$	758,468	1.7	%	$	1,503,280	1.5	%

See footnotes page for additional information.

7

THE NEW YORK TIMES COMPANY

FOOTNOTES

(a)Other revenue consists primarily of revenue from wholesale delivery operations, news services and direct marketing.

(b)“Other income” in the Company’s Condensed Consolidated Statements of Income includes the following items:

	Second Quarter				Six Months
	(In thousands)				(In thousands)
	2004		2003		2004		2003
Non-compete agreement	$	1,250	$	1,250	$	2,500	$	2,500
Advertising credit *	—		—		—		8,277
Other income	$	1,250	$	1,250	$	2,500	$	10,777

* Related to a credit for advertising issued by the Company, which was not used within the allotted time by the advertiser.

(c)“Minority interest in net income of subsidiaries” includes minority holders (FC Lion LLC and Myllykoski Corporation) income or loss, net of income taxes, of subsidiaries that are consolidated with the Company but less than 100% owned.  FC Lion LLC is a minority holder in a subsidiary formed for the purpose of constructing the Company’s new headquarters, and Myllykoski Corporation is a minority holder of a subsidiary that has an investment (along with the Company) in a paper mill.

(d)Intersegment eliminations primarily include license fees between NYTD and other segments.

(e)The New York Times Newspaper Group consists of The New York Times and the International Herald Tribune.

(f)The New England Newspaper Group consists of The Boston Globe and the Worcester Telegram & Gazette.

(g)The Regional Newspaper Group consists of 15 newspapers in Alabama, California, Florida, Louisiana, North Carolina, and South Carolina.

Reconciliation of EBITDA to Net Income

EBITDA, which is reconciled to net income below, is defined as earnings before interest, taxes, depreciation and amortization. The EBITDA presented may not be comparable to similarly titled measures reported by other companies.  The Company believes that EBITDA, while providing useful information, should not be considered in isolation or as an alternative to other financial measures determined under GAAP.

	Second Quarter						Six Months
	(In thousands)						(In thousands)
	2004			2003			2004			2003
EBITDA	$	172,520		$	167,640		$	316,288		$	330,766
Depreciation and amortization	(37,080		)	(35,778		)	(73,941		)	(73,307		)
Interest expense - net	(10,353		)	(11,484		)	(20,673		)	(23,286		)
Income taxes *	(49,410		)	(47,549		)	(87,562		)	(92,498		)
Net income	$	75,677		$	72,829		$	134,112		$	141,675

* Includes income taxes of minority holders netted within “Minority interest in net income of subsidiaries” in the Condensed Consolidated Statements of Income.  These income taxes were $128 thousand and $57 thousand in the second quarters of 2004 and 2003 and $215 thousand and $54 thousand for the first six months of 2004 and 2003.

8

EX-99.2

Exhibit 99.2

Press Release

Contacts:	Catherine J. Mathis, 212-556-1981; E-mail:  mathis@nytimes.com Paula Schwartz, 212-556-5224; E-mail:  schwap@nytimes.com
	This press release can be downloaded from www.nytco.com

THE NEW YORK TIMES COMPANY REPORTS JUNE REVENUES

NEW YORK, July 14, 2004 – The New York Times Company announced today that in June 2004 advertising revenues for the Company’s business units increased 2.3% and total Company revenues increased 1.9% compared with the results for the same month last year.

Advertising results for June were as follows:

The New York Times Newspaper Group

Advertising revenues for The New York Times Newspaper Group, which includes The New York Times and the International Herald Tribune, increased 0.1% for June 2004 compared with June 2003.  National advertising revenues decreased as strength in studio entertainment, media and financial services advertising was offset by softness in transportation and technology products advertising.  Retail advertising revenues increased due to growth in department store and mass market store advertising.  Classified advertising revenues increased as strength in help-wanted advertising offset softness in automotive and real estate advertising.

New England Newspaper Group
Advertising revenues for the New England Newspaper Group decreased 2.8% for June 2004 compared with June 2003.  National advertising revenues decreased due to weakness in travel, national automotive, telecommunications, banking, technology and entertainment advertising.  Retail advertising revenues increased as softness in sports/toys, department store and electronics/appliance advertising was offset by growth in preprints.  Classified advertising revenues increased because of strength in help-wanted, real estate and automotive advertising.

Regional Newspaper Group
Advertising revenues for the Regional Newspaper Group rose 8.0% for June 2004 compared with June 2003.  Retail advertising revenues increased due to robust telecommunications, home furnishings, financial and grocery advertising.  Classified advertising revenues grew on strong help-wanted, real estate and automotive advertising.

New York Times Digital

Advertising revenues for NYTD rose 36.3%, reflecting growth in display advertising and in all classified ad categories at NYTimes.com and Boston.com.

Broadcast Group

Advertising revenues for the Broadcast Group increased 6.0% due to growth in political, restaurant and financial advertising.

The New York Times Company (NYSE: NYT), a leading media company with 2003 revenues of $3.2 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com.  For the fourth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune’s 2004 list of America’s Most Admired Companies.  The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

# # #

2

THE NEW YORK TIMES COMPANY

2004 TOTAL COMPANY REVENUES (a)

JUNE AND YEAR TO DATE

Total Company Revenues

($ 000’s)

	June					Year to Date
	2004		2003		% Change	2004		2003		% Change
Advertising Revenues
Publishing (b)
National (c)	$	66,768	$	70,985	-5.9	$	460,039	$	448,047	+2.7
Retail (d)	36,079		33,063		+9.1	222,393		219,999		+1.1
Classified (e)	49,837		46,408		+7.4	298,725		287,893		+3.8
Other Ad Revenue (f)	4,101		3,279		+25.1	25,971		20,862		+24.5
Sub-Total Publishing	156,785		153,736		+2.0	1,007,129		976,802		+3.1
Broadcast Group	11,688		11,029		+6.0	73,409		66,916		+9.7
Total Advertising Revenues	168,473		164,765		+2.3	1,080,538		1,043,718		+3.5
Circulation Revenues	67,908		68,261		-0.5	440,399		442,305		-0.4
Other Revenues (g)	17,170		15,900		+8.0	104,938		99,608		+5.4
Total Company Revenues	$	253,551	$	248,926	+1.9	$	1,625,875	$	1,585,631	+2.5

(a) Numbers may not add due to rounding.  Beginning with this release, The New York Times’s advertising from automotive manufacturers, which had been included in the automotive Classified category, will now be treated as a National category.  With this category change, The Times’s reporting is now consistent with that of the Company’s New England Newspaper Group and Regional Newspaper Group.  In addition, The New York Times has reorganized its regional sales offices, which has resulted in certain ad category changes.  Advertising from these offices, which had been reported entirely under the Retail category, will now be allocated to the appropriate National or Retail category.  Advertising revenue and volume have been restated for 2004 to reflect these changes and this information is available in the Investors section at www.nytco.com.  The historical information for 2003, which is also available online, has also been restated to reflect these reclassifications.

(b) Newspaper Group and New York Times Digital.

(c) Includes all ad revenue from the International Herald Tribune.

(d) Includes all preprint revenues.

(e) Includes legal advertising.

(f) Primarily includes ad revenue from the Regional Newspaper Group’s magazines and Web sites.

(g) Primarily includes revenues from wholesale delivery operations, news services, direct marketing, digital archives and commercial printing.

THE NEW YORK TIMES COMPANY

2004 TOTAL COMPANY REVENUES (a)

SECOND QUARTER

Total Company Revenues

($ 000’s)

	Second Quarter
	2004		2003		% Change
Advertising Revenues
Publishing (b)
National (c)	$	228,321	$	222,005	+2.8
Retail (d)	115,704		114,866		+0.7
Classified (e)	153,473		146,128		+5.0
Other Ad Revenue (f)	13,839		11,251		+23.0
Sub-Total Publishing	511,336		494,251		+3.5
Broadcast Group	40,174		36,313		+10.6
Total Advertising Revenues	551,511		530,564		+3.9
Circulation Revenues	220,156		221,304		-0.5
Other Revenues (g)	52,264		50,023		+4.5
Total Company Revenues	$	823,931	$	801,891	+2.7

(a) Numbers may not add due to rounding.  Beginning with this release, The New York Times’s advertising from automotive manufacturers, which had been included in the automotive Classified category, will now be treated as a National category.  With this category change, The Times’s reporting is now consistent with that of the Company’s New England Newspaper Group and Regional Newspaper Group.  In addition, The New York Times has reorganized its regional sales offices, which has resulted in certain ad category changes.  Advertising from these offices, which had been reported entirely under the Retail category, will now be allocated to the appropriate National or Retail category.  Advertising revenue and volume have been restated for 2004 to reflect these changes and this information is available in the Investors section at www.nytco.com.  The historical information for 2003, which is also available online, has also been restated to reflect these reclassifications.

(b) Newspaper Group and New York Times Digital.

(c) Includes all ad revenue from the International Herald Tribune.

(d) Includes all preprint revenues.

(e) Includes legal advertising.

(f) Primarily includes ad revenue from the Regional Newspaper Group’s magazines and Web sites.

(g) Primarily includes revenues from wholesale delivery operations, news services, direct marketing, digital archives and commercial printing.

THE NEW YORK TIMES COMPANY

2004 ADVERTISING REVENUES (a)

JUNE AND YEAR TO DATE

Total Company Advertising Revenues

($ 000’s)

	June							Year to Date
	2004			2003			% Change	2004			2003			% Change
Publishing (b)
New York Times Newspaper Group (c)	$	87,446		$	87,315		+0.1	$	570,833		$	566,165		+0.8
New England Newspaper Group (d)	36,200			37,228			-2.8	225,220			220,295			+2.2
Regional Newspaper Group	26,413			24,464			+8.0	172,041			163,645			+5.1
New York Times Digital	7,012			5,143			+36.3	40,743			29,147			+39.8
Intersegment Eliminations	(286		)	(415		)		(1,709		)	(2,451		)
Sub-Total Publishing	156,785			153,736			+2.0	1,007,129			976,802			+3.1
Broadcast Group	11,688			11,029			+6.0	73,409			66,916			+9.7
Total Company Ad Revenues	$	168,473		$	164,765		+2.3	$	1,080,538		$	1,043,718		+3.5

(a) Numbers may not add due to rounding.  Historical information for 2003 is available in the Investors section at www.nytco.com.

(b) Newspaper Group and New York Times Digital.

(c) The New York Times and the International Herald Tribune.

(d) The Boston Globe and the Worcester Telegram & Gazette.

THE NEW YORK TIMES COMPANY

2004 ADVERTISING REVENUES (a)

SECOND QUARTER

Total Company Advertising Revenues

($ 000’s)

	Second Quarter
	2004			2003			% Change
Publishing (b)
New York Times Newspaper Group (c)	$	287,690		$	281,215		+2.3
New England Newspaper Group (d)	116,234			116,013			+0.2
Regional Newspaper Group	86,916			82,656			+5.2
New York Times Digital	21,318			15,647			+36.2
Intersegment Eliminations	(822		)	(1,280		)
Sub-Total Publishing	511,336			494,251			+3.5
Broadcast Group	40,174			36,313			+10.6
Total Company Ad Revenues	$	551,511		$	530,564		+3.9

(a) Numbers may not add due to rounding.  Historical information for 2003 is available in the Investors section at www.nytco.com.

(b) Newspaper Group and New York Times Digital.

(c) The New York Times and the International Herald Tribune.

(d) The Boston Globe and the Worcester Telegram & Gazette.

THE NEW YORK TIMES COMPANY

2004 PUBLISHING AD REVENUE GROWTH

BY CLASSIFIED CATEGORY

JUNE, SECOND QUARTER AND YEAR TO DATE (a)

	% Change June ‘04 vs. June ‘03	% Change Q2 ‘04 vs. Q2 ‘03	% Change YTD ‘04 vs. YTD ‘03
Publishing (b)
Help-Wanted	+17.4	+14.6	+10.1
Real Estate	+3.6	-2.6	-3.6
Automotive	+3.0	+7.0	+9.5

(a) Numbers may not add due to rounding.  Beginning with this release, The New York Times’s advertising from automotive manufacturers, which had been included in the automotive Classified category, will now be treated as a National category.  With this category change, The Times’s reporting is now consistent with that of the Company’s New England Newspaper Group and Regional Newspaper Group.  In addition, The New York Times has reorganized its regional sales offices, which has resulted in certain ad category changes.  Advertising from these offices, which had been reported entirely under the Retail category, will now be allocated to the appropriate National or Retail category.  Advertising revenue and volume have been restated for 2004 to reflect these changes and this information is available in the Investors section at www.nytco.com.  The historical information for 2003, which is also available online, has also been restated to reflect these reclassifications.

(b) Newspaper Group and New York Times Digital.

THE NEW YORK TIMES COMPANY

2004 ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

JUNE AND YEAR TO DATE

Total Newspaper Group

	June			Year to Date
	2004	2003	% Change	2004	2003	% Change
National (b)	185.0	200.6	-7.8	1,241.0	1,260.2	-1.5
Retail	489.9	487.9	+0.4	3,139.3	3,208.2	-2.1
Classified	788.1	775.2	+1.7	4,969.3	4,970.8	0.0
Total ROP	1,463.0	1,463.7	0.0	9,349.6	9,439.2	-0.9
Part Run/ Zoned	191.6	170.2	+12.6	1,114.1	1,049.0	+6.2
Total	1,654.6	1,633.9	+1.3	10,463.7	10,488.3	-0.2
Preprints	221,217	192,595	+14.9	1,340,025	1,337,947	+0.2

(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.  Beginning with this release, The New York Times’s advertising from automotive manufacturers, which had been included in the automotive Classified category, will now be treated as a National category.  With this category change, The Times’s reporting is now consistent with that of the Company’s New England Newspaper Group and Regional Newspaper Group.  In addition, The New York Times has reorganized its regional sales offices, which has resulted in certain ad category changes.  Advertising from these offices, which had been reported entirely under the Retail category, will now be allocated to the appropriate National or Retail category.  Advertising revenue and volume have been restated for 2004 to reflect these changes and this information is available in the Investors section at www.nytco.com.  The historical information for 2003, which is also available online, has also been restated to reflect these reclassifications.   

(b) Includes all ad volume from the International Herald Tribune.

THE NEW YORK TIMES COMPANY

2004 ADVERTISING VOLUME (a)

(Inches in thousands, Preprints in thousands of copies)

SECOND QUARTER

Total Newspaper Group

	Second Quarter
	2004	2003	% Change
National (b)	617.2	633.4	-2.6
Retail	1,596.8	1,625.1	-1.7
Classified	2,586.1	2,571.3	+0.6
Total ROP	4,800.1	4,829.8	-0.6
Part Run/ Zoned	590.6	558.1	+5.8
Total	5,390.7	5,387.8	+0.1
Preprints	685,563	678,128	+1.1

(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.  Beginning with this release, The New York Times’s advertising from automotive manufacturers, which had been included in the automotive Classified category, will now be treated as a National category.  With this category change, The Times’s reporting is now consistent with that of the Company’s New England Newspaper Group and Regional Newspaper Group.  In addition, The New York Times has reorganized its regional sales offices, which has resulted in certain ad category changes.  Advertising from these offices, which had been reported entirely under the Retail category, will now be allocated to the appropriate National or Retail category.  Advertising revenue and volume have been restated for 2004 to reflect these changes and this information is available in the Investors section at www.nytco.com.  The historical information for 2003, which is also available online, has also been restated to reflect these reclassifications.

(b) Includes all ad volume from the International Herald Tribune.