EX-99.2 3 a5455191ex992.txt EXHIBIT 99.2 Exhibit 99.2 The New York Times Company Reports June Revenues NEW YORK--(BUSINESS WIRE)--July 25, 2007--The New York Times Company announced today that in June 2007 advertising revenues from continuing operations decreased 5.5% and total Company revenues from continuing operations decreased 3.6% compared with June 2006. All comparisons are for June 2007 to June 2006 unless otherwise noted: News Media Group: Advertising revenue for the News Media Group decreased 6.5%. The New York Times Media Group - Advertising revenues for The New York Times Media Group decreased 3.0%. National advertising revenues increased as growth in studio entertainment, books, packaged goods, alcoholic beverage, advocacy, international fashion and transportation advertising offset weakness in the telecommunications, banking and financial services categories. Retail advertising revenues decreased due to softness in mass market, department store, home furnishing store, fine arts and fashion/jewelry advertising. Classified advertising revenues decreased because of weakness in real estate, automotive and help-wanted advertising. New England Media Group - Advertising revenues for the New England Media Group decreased 11.8%. National advertising revenues increased as strength in entertainment advertising, particularly for motion pictures, and pharmaceutical/packaged goods advertising offset weakness in the financial services, banking and travel categories. Retail advertising revenues decreased largely due to softness in apparel/footwear, electronics/appliances and computer/office supply advertising. Classified advertising revenues decreased because of weakness in real estate, help-wanted and automotive advertising. Regional Media Group - Advertising revenues for the Regional Media Group decreased 12.2%. Retail advertising revenues decreased mainly because of softness in home furnishing, banking and home improvement advertising. Classified advertising revenues decreased due to weakness in help-wanted, real estate and automotive advertising. The Internet ad revenues included in the News Media Group rose 22.0% in June due to growth in both display and classified advertising. Circulation revenues for the News Media Group decreased 0.7%, declining slightly at each of the three media groups. TimesSelect, the fee-based product on NYTimes.com that includes The Times's distinctive columnists and extensive access to its archives, currently has approximately 763,000 subscribers with about 60% receiving TimesSelect as a benefit of their home-delivery subscriptions, 29% receiving it from online-only subscriptions and 11% receiving it free as college students and educators. About Group - Advertising revenues at the About Group (which includes About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com) rose 23.9%. June's growth was due to increases in both display and cost-per-click advertising. In addition, advertising revenues reflect the acquisitions of ConsumerSearch.com in May 2007 and UCompareHealthCare.com in March 2007. Display advertising increased primarily because of strength in the Internet, pharmaceutical and financial services categories. In addition, for June 2007, The New York Times Company had the 11th largest presence on the Web, with 42.9 million unique visitors in the United States according to Nielsen//NetRatings, up approximately 14% from 37.7 million unique visitors in June 2006. 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) ---------------------------------------------------------------------- June Year to Date ----------------------------------------------------- % % 2007 2006 Change 2007 2006 Change -------- -------- ------ ---------- ---------- ------ Advertising Revenues News Media National $70,548 $68,356 +3.2 $449,146 $452,657 -0.8 Retail 32,034 35,876 -10.7 216,989 232,578 -6.7 Classified 40,748 49,137 -17.1 270,578 309,338 -12.5 Other Ad Revenue 4,644 4,956 -6.3 31,814 31,819 +0.0 -------- -------- ------ ---------- ---------- ------ Total News Media Group 147,973 158,324 -6.5 968,527 1,026,393 -5.6 About Group (b) 7,199 5,809 +23.9 44,855 35,735 +25.5 -------- -------- ------ ---------- ---------- ------ Total Ad Revenues from Continuing Operations 155,173 164,134 -5.5 1,013,382 1,062,128 -4.6 Circulation Revenues 66,785 67,285 -0.7 441,118 439,986 +0.3 Other Revenues(c) 20,289 19,815 +2.4 120,463 116,719 +3.2 -------- -------- ------ ---------- ---------- ------ Total Company Revenues from Continuing Operations $242,247 $251,233 -3.6 $1,574,963 $1,618,833 -2.7 ======== ======== ====== ========== ========== ====== Discontinued Operations: Broadcast Media Group (d) 0 11,798 N/A 46,702 71,066 N/A ---------------------------------------------------------------------- (a) Numbers may not add due to rounding. (b) Includes 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 StudioSystems 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) ---------------------------------------------------------------------- Second Quarter ----------------------------- % 2007 2006 Change ---------- -------- --------- Advertising Revenues News Media National $224,244 $227,200 -1.3 Retail 109,640 121,658 -9.9 Classified 134,471 155,331 -13.4 Other Ad Revenue 16,578 16,807 -1.4 ---------- -------- --------- Total News Media Group 484,933 520,996 -6.9 About Group (b) 23,534 18,447 +27.6 ---------- -------- --------- Total Ad Revenues from Continuing Operations 508,467 539,443 -5.7 Circulation Revenues 218,664 219,705 -0.5 Other Revenues (c) 61,812 60,488 +2.2 ---------- -------- --------- Total Company Revenues from Continuing Operations $788,943 $819,636 -3.7 ========== ======== ========= Discontinued Operations: Broadcast Media Group (d) 13,798 39,112 N/A ---------------------------------------------------------------------- (a) Numbers may not add due to rounding. (b) Includes 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 StudioSystems 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) ---------------------------------------------------------------------- June Year to Date ----------------------------------------------------- % % 2007 2006 Change 2007 2006 Change -------- -------- ------ ---------- ---------- ------ News Media Group New York Times Media Group $93,016 $95,895 -3.0 $596,540 $623,856 -4.4 New England Media Group 29,918 33,906 -11.8 197,576 210,145 -6.0 Regional Media Group 25,040 28,524 -12.2 174,411 192,392 -9.3 -------- -------- ------ ---------- ---------- ------ Total News Media Group 147,973 158,324 -6.5 968,527 1,026,393 -5.6 About Group (b) 7,199 5,809 +23.9 44,855 35,735 +25.5 -------- -------- ------ ---------- ---------- ------ Total Ad Revenues from Continuing Operations $155,173 $164,134 -5.5 $1,013,382 $1,062,128 -4.6 ======== ======== ====== ========== ========== ====== Discontinued Operations: Broadcast Media Group (c) 0 11,617 N/A 45,745 69,862 N/A ---------------------------------------------------------------------- (a) Numbers may not add due to rounding. (b) Includes 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) ---------------------------------------------------------------------- Second Quarter ------------------------ % 2007 2006 Change -------- -------- ------ News Media Group New York Times Media Group $299,394 $316,045 -5.3 New England Media Group 100,334 108,608 -7.6 Regional Media Group 85,205 96,343 -11.6 -------- -------- ------ Total News Media Group 484,933 520,996 -6.9 About Group (b) 23,534 18,447 +27.6 -------- -------- ====== Total Ad Revenues from Continuing Operations $508,467 $539,443 -5.7 ======== ======== ====== Discontinued Operations: Broadcast Media Group (c) 13,516 38,542 N/A ---------------------------------------------------------------------- (a) Numbers may not add due to rounding. (b) Includes 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 June '07 Q2 '07 YTD '07 vs. June '06 vs. Q2 '06 vs. YTD '06 ------------------------------------------------------ Help Wanted -13.7 -10.6 -10.6 Real Estate -24.4 -20.9 -17.3 Automotive -18.1 -14.8 -17.0 Other +6.1 +11.6 +7.8 ------------------------------------------------------ Total -17.1 -13.4 -12.5 ---------------------------------------------------------------------- THE NEW YORK TIMES COMPANY 2007 PRINT ADVERTISING VOLUME (a) (Inches in thousands, Preprints in thousands of copies) ---------------------------------------------------------------------- June Year to Date ---------------------------------------------------------------------- % % 2007 2006 Change 2007 2006 Change ------- ------- ------ --------- --------- ------ National 167.6 173.7 -3.5 1,072.6 1,166.0 -8.0 Retail 430.2 474.8 -9.4 2,888.6 3,097.2 -6.7 Classified 631.4 746.2 -15.4 4,331.8 4,859.9 -10.9 ------- ------- ------ --------- --------- ------ Total ROP 1,229.2 1,394.8 -11.9 8,293.0 9,123.0 -9.1 ------- ------- ------ --------- --------- ------ Part Run/ Zoned 146.0 184.1 -20.7 864.0 1,015.8 -14.9 ------- ------- ------ --------- --------- ------ Total 1,375.2 1,578.9 -12.9 9,157.0 10,138.8 -9.7 ======= ======= ====== ========= ========= ====== Preprints 205,205 216,185 -5.1 1,353,398 1,403,055 -3.5 ---------------------------------------------------------------------- (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. THE NEW YORK TIMES COMPANY 2007 PRINT ADVERTISING VOLUME (a) (Inches in thousands, Preprints in thousands of copies) ---------------------------------------------------------------------- Second Quarter ---------------------------------------------------------------------- % 2007 2006 Change ------------- -------------- --------------- National 525.4 584.3 -10.1 Retail 1,441.4 1,590.1 -9.4 Classified 2,185.1 2,483.4 -12.0 ------------- -------------- --------------- Total ROP 4,151.9 4,657.8 -10.9 ------------- -------------- --------------- Part Run/ Zoned 457.8 555.4 -17.6 ------------- -------------- --------------- Total 4,609.7 5,213.2 -11.6 ============= ============== =============== Preprints 663,855 716,905 -7.4 ---------------------------------------------------------------------- (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 schwap@nytimes.com