EX-99.2 3 a5189654ex99-2.txt EXHIBIT 99.2 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