8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): January 28, 2009


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)	(I.R.S. Employer Identification No.)

620 Eighth Avenue, New York, New York	10018
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:(212) 556-1234

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02     Results of Operations and Financial Condition.

On January 28, 2009, The New York Times Company (the “Company”) issued a press release announcing the Company’s earnings for the fourth quarter and year ended December 28, 2008.  On January 28, 2009, the Company also issued a press release announcing the Company’s revenues for December 2008.  Copies of these press releases are furnished as exhibits to this Form 8-K.

Item 9.01     Financial Statements and Exhibits.

(d)  Exhibits

Exhibit Number	Description
Exhibit 99.1	The New York Times Company Earnings Press Release dated January 28, 2009
Exhibit 99.2	The New York Times Company December Revenues Press Release dated January 28, 2009

SIGNATURES

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:	January 28, 2009	By:	/s/ Kenneth A. Richieri
			Kenneth A. Richieri
			Senior Vice President,
			General Counsel and Secretary

Exhibit List

Exhibit Number	Description
Exhibit 99.1	The New York Times Company Earnings Press Release dated January 28, 2009
Exhibit 99.2	The New York Times Company December Revenues Press Release dated January 28, 2009

EX-99.1

Exhibit 99.1

The New York Times Company Reports 2008 Fourth-Quarter and Full-Year Results

NEW YORK--(BUSINESS WIRE)--January 28, 2009--The New York Times Company announced today fourth-quarter 2008 earnings per share from continuing operations (EPS) of $.19, including $.10 per share for severance costs and a non-cash charge totaling $.07 per share for the write-down of assets, compared with $.37 EPS in the fourth quarter of 2007, which included $.07 per share for severance costs and non-cash charges totaling $.07 per share for the write-down of assets.

Fourth-quarter 2008 operating profit from continuing operations decreased to $63.3 million from $101.5 million in the 2007 fourth quarter. Excluding depreciation and amortization and the special items noted below, operating profit from continuing operations decreased to $118.5 million from $159.2 million in the 2007 fourth quarter.

“The disruptions of the global economy are affecting all businesses and industries, especially companies, such as ours, that generate a significant portion of their revenues from advertising,” said Janet L. Robinson, president and CEO. “In this time of unprecedented change, we are responding strategically and creatively to manage our businesses and prepare for our future, while preserving the flexibility to navigate this difficult period. You have seen that in our decisions to restructure our cost base, to preserve capital by reducing our dividend, and to improve our financial position by completing the transaction announced last week. And you see that daily in how we are responding to the present realities of our markets.

“As the economy deteriorated in the quarter, advertisers significantly reduced their spending. After growing almost 15 percent in the first nine months of last year, digital advertising decreased 3.5 percent in the fourth quarter as online marketers cut back on display ads in response to worsening business conditions. Despite the deepening recession, our circulation revenues increased 3.7 percent as a result of higher prices at The New York Times, The Boston Globe and our smaller newspapers. This is a testament to the value our readers believe we bring to them.

“Our cost performance was exceptional in the quarter, as operating costs fell 8.5 percent. For the year, operating costs dropped 4.7 percent or approximately $136 million, despite significantly higher newsprint prices. Earlier this month, we completed the closure of our retail and newsstand distribution business in the New York metropolitan area. This is expected to improve operating results by approximately $27 million on an annual basis, excluding one-time costs. Many other expense reduction initiatives, such as the consolidation of our Boston printing facilities, are planned for 2009.

“As we look ahead, we believe advertisers will continue to be cautious with their budgets, particularly in the early part of this year. To date in January the rate of decline in print advertising revenue has accelerated from what we saw in December, while that of digital is similar to last month. During this difficult time in our business and the economy, executing well on our strategy of providing outstanding journalism, developing new revenue streams, restructuring our cost base and improving our financial flexibility will help us meet the challenges we face.”

Special Items

Fourth-quarter 2008 results from continuing operations included:

• A non-cash charge of $19.2 million ($10.7 million after tax, or $.07 per share) for the write-down of an intangible asset at The International Herald Tribune, whose results are included in The New York Times Media Group.

Fourth-quarter 2007 results from continuing operations included:

• A non-cash charge of $11.0 million ($6.4 million after tax, or $.04 per share) for the write-down of an intangible asset at the Worcester Telegram & Gazette, whose results are included in the New England Media Group, and
• A non-cash charge of $7.1 million ($4.1 million after tax, or $.03 per share) for the write-down of our 49 percent investment in Metro Boston LLC, which publishes a free daily newspaper in the Greater Boston area. This charge is included in “Net income/(loss) from joint ventures” in our Condensed Consolidated Statements of Operations.

These items total a loss of $18.1 million ($10.5 million after tax, or $.07 per share) in the fourth quarter of 2007.

Comparisons

Unless otherwise noted, all comparisons are for the fourth quarter of 2008 to the fourth quarter of 2007. The results of the Broadcast Media Group, which was sold in the second quarter of 2007, are reported within discontinued operations.

This release includes non-GAAP financial measures, and the exhibits include a discussion of management’s use of these non-GAAP financial measures and reconciliations to the most comparable GAAP financial measures.

Fourth-Quarter Results from Continuing Operations

Revenues

Total revenues decreased 10.8 percent to $772.1 million from $865.8 million. Advertising revenues decreased 17.6 percent; circulation revenues increased 3.7 percent; and other revenues declined 2.5 percent. Revenues decreased mainly due to lower print advertising.

Operating Costs

Operating costs decreased 8.5 percent to $689.6 million from $753.2 million. Depreciation and amortization decreased 23.0 percent to $36.0 million from $46.7 million primarily because certain assets at The New York Times Media Group reached the end of their depreciation period during the first nine months of 2008.

Severance costs were $24.1 million ($13.7 million after tax, or $.10 per share), which included $19.9 million for the closure of City & Suburban (C & S), the Company’s retail and newsstand distribution subsidiary that was closed in early January. In the fourth quarter of 2007, the Company had $17.8 million ($10.1 million after tax, or $.07 per share) in severance costs.

Excluding depreciation and amortization and severance costs, operating costs decreased 8.6 percent to $629.5 million from $688.8 million, mainly due to lower compensation costs and benefits expense. At year-end 2008, the number of full-time equivalent employees at the Company was down approximately 9 percent from the prior year.

Newsprint expense increased 11.0 percent, stemming from a 33.3 percent increase in prices, offset in part by a 22.3 percent decrease in consumption.

Fourth-Quarter Business Segment Results

News Media Group

Total News Media Group revenues decreased 11.1 percent to $742.2 million from $835.0 million.

Advertising revenues decreased 18.4 percent, mainly due to weakness in print advertising at all of the Company’s major properties.

Circulation revenues increased 3.7 percent, primarily because of higher prices at each of the Company’s media groups, partially offset by volume declines.

Other revenues decreased 2.9 percent primarily due to lower direct mail advertising services and lower commercial printing revenues at the New England Media Group.

Total News Media Group operating costs decreased 8.0 percent to $657.9 million from $714.9 million. Excluding depreciation and amortization and severance costs, operating costs decreased 8.1 percent to $603.3 million from $656.2 million, mainly as a result of the items noted in the operating costs section above.

Operating profit for the News Media Group decreased 40.3 percent to $65.2 million from $109.1 million. Excluding special items, operating profit before depreciation and amortization decreased 28.7 percent to $114.8 million from $161.0 million.

About Group

Total About Group revenues decreased 2.9 percent to $29.8 million from $30.7 million, due to a decrease in display advertising.

Total About Group operating costs increased 3.6 percent to $19.8 million from $19.1 million. Excluding depreciation and amortization, operating costs increased 8.9 percent to $16.6 million from $15.3 million, mainly because of investments in new revenue initiatives that resulted in higher marketing costs. Depreciation and amortization was lower, primarily because an asset reached the end of its amortization period in the second quarter of 2008.

Operating profit declined 13.8 percent to $10.0 million from $11.6 million. Operating profit before depreciation and amortization decreased 14.6 percent to $13.2 million from $15.4 million, mainly due to lower display advertising revenue.

Corporate

Corporate costs were $11.8 million compared with $19.2 million in the prior-year fourth quarter mainly due to lower stock-based compensation and benefits expense.

Other Financial Data

Internet Revenues

Internet businesses include NYTimes.com, About.com, Boston.com and other company Web sites. In the fourth quarter, the Company’s Internet revenues decreased 2.9 percent to $92.5 million from $95.2 million in the fourth quarter of 2007, and Internet advertising revenues declined 3.5 percent to $81.9 million from $84.9 million.

For the year, the Company’s Internet revenues increased 6.5 percent to $351.7 million from $330.2 million in 2007, and Internet advertising revenues increased 9.3 percent to $308.8 million from $282.5 million.

In total, Internet businesses accounted for 12.0 percent of the Company’s revenues in the fourth quarter versus 11.0 percent in the 2007 fourth quarter. For the year, Internet businesses accounted for 11.9 percent of the Company’s revenues versus 10.3 percent of total revenues in 2007.

Joint Ventures

Net income from joint ventures was $1.8 million in the fourth quarter of 2008 and $17.1 million for the full year of 2008 compared with a net loss from joint ventures of $10.6 million in the fourth quarter of 2007 and $2.6 million for the full year of 2007. In 2008, the paper mills in which the Company has equity interests benefited from higher paper prices. The third quarter of 2008 included a charge of $5.6 million and the fourth quarter of 2007 included a charge of $7.1 million for the write-down of the Company’s 49 percent investment in Metro Boston LLC.

Interest Expense-net

Interest expense-net increased to $12.3 million from $10.9 million, primarily as a result of less capitalized interest.

Income Taxes

The Company had income tax expense of $25.1 million for the fourth quarter of 2008 and an income tax benefit of $5.7 million for the full year of 2008. In 2007, the Company had income tax expense of $27.4 million for the fourth quarter and $76.1 million for the full year. The Company’s effective income tax rate was 47.4 percent in the fourth quarter and 8.0 percent for the full year of 2008 compared with 34.3 percent in the fourth quarter and 41.2 percent for the full year of 2007.

The fourth-quarter effective income tax rate was unfavorably affected by non-deductible losses on investments in corporate-owned life insurance policies. For the full year, the effective income tax rate was unfavorably affected by non-deductible losses on investments in corporate-owned life insurance policies and a non-deductible goodwill impairment charge.

Cash and Total Debt

At the end of the quarter, cash and cash equivalents were approximately $57 million and total debt was approximately $1.1 billion. The Company’s current sources of short-term funding are its revolving credit agreements under which it had approximately $380 million in borrowings outstanding at the end of the quarter.

Capital Expenditures

In the fourth quarter, total capital expenditures were approximately $32 million and for the full year, capital expenditures totaled approximately $127 million.

Pension Obligations

Due to significant declines in the equity markets in 2008, the Company’s funded status of its qualified pension plans has been adversely affected. At the end of 2008, the Company’s underfunded pension obligation is estimated to be approximately $625 million. Assuming the equity markets do not sufficiently recover, the discount rate does not increase and there is no further legislative relief, the Company will be required to fund this deficiency over a seven-year period. The Company expects there will be no contributions required in 2009 because of its pension funding credits. The Company will also continue to assess whether to make discretionary contributions after considering the funded status of its plans, movements in the discount rate, investment performance and other factors.

Expectations

For 2009, the Company expects depreciation and amortization to be $140 to $150 million, which includes accelerated depreciation of approximately $5 million related to the closing of its printing plant in Billerica, Mass. It projects capital expenditures to be approximately $80 million, including about $27 million for a plant consolidation and a systems project at the News Media Group.

Conference Call Information

The Company’s fourth-quarter and full year 2008 earnings conference call will be held on Wednesday, January 28, at 11:00 a.m. E.T. To access the call, dial (877) 852-6573 (in the U.S.) and (719) 325-4798 (international callers). Participants should dial into the conference call approximately 10 minutes before the start time. Online listeners can link to the live webcast at www.nytco.com/investors.

An archive of the webcast will be available beginning about two hours after the call at www.nytco.com/investors, and a transcript of the call will also be posted. The archive and transcript will be available for one quarter.

An audio replay will 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, January 30. The access code is 8119643.

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 30, 2007 and Quarterly Report on Form 10-Q for the quarter ended September 28, 2008. 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 2008 revenues of $2.9 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other daily newspapers, WQXR-FM and more than 50 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

Exhibits:	Condensed Consolidated Statements of Operations
	Segment Information
	News Media Group Revenues by Operating Segment
	Footnotes
	Reconciliation of Non-GAAP Information

THE NEW YORK TIMES COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars and shares in thousands, except per share data)
	Fourth Quarter					Full Year
		2008		2007	% Change		2008		2007	% Change
Revenues
Advertising	$	468,787	$	569,043	-17.6%	$	1,779,699	$	2,047,468	-13.1%
Circulation		233,668		225,344	3.7%		910,154		889,882	2.3%
Other (a)		69,599		71,368	-2.5%		259,003		257,727	0.5%
Total		772,054		865,755	-10.8%		2,948,856		3,195,077	-7.7%
Operating costs
Production costs		327,911		338,187	-3.0%		1,315,120		1,341,096	-1.9%
Selling, general and administrative costs		325,692		368,368	-11.6%		1,332,084		1,397,413	-4.7%
Depreciation and amortization		35,955		46,690	-23.0%		144,409		189,561	-23.8%
Total		689,558		753,245	-8.5%		2,791,613		2,928,070	-4.7%
Write-down of assets (b)		19,158		11,000	74.2%		197,879		11,000	*
Net loss on sale of assets (c)		-		-	N/A		-		68,156	N/A
Gain on sale of WQEW-AM		-		-	N/A		-		39,578	N/A
Operating profit/(loss)		63,338		101,510	-37.6%		(40,636)		227,429	*
Net income/(loss) from joint ventures (d)		1,798		(10,622)	*		17,062		(2,618)	*
Interest expense - net		12,283		10,918	12.5%		47,790		39,842	19.9%
Income/(loss) from continuing operations before
income taxes and minority interest		52,853		79,970	-33.9%		(71,364)		184,969	*
Income tax expense/(benefit)		25,075		27,396	-8.5%		(5,726)		76,137	*
Minority interest in net (income)/loss of
subsidiaries		(130)		68	*		(501)		107	*
Income/(loss) from continuing operations		27,648		52,642	-47.5%		(66,139)		108,939	*
Discontinued operations, Broadcast Media Group: (e)
Income from discontinued operations,
net of income taxes		-		-	N/A		-		5,753	N/A
Gain on sale, net of income taxes		-		353	N/A		8,300		94,012	-91.2%
Discontinued operations, net of income taxes		-		353	N/A		8,300		99,765	-91.7%
Net income/(loss)	$	27,648	$	52,995	-47.8%	$	(57,839)	$	208,704	*
Average Number of Common Shares Outstanding:
Basic		143,791		143,853	0.0%		143,777		143,889	-0.1%
Diluted		144,073		144,060	0.0%		143,777		144,158	-0.3%
Basic Earnings/(Loss) Per Share:
Income/(loss) from continuing operations	$	0.19	$	0.37	-48.6%	$	(0.46)	$	0.76	*
Discontinued operations, net of income taxes		-		-	N/A		0.06		0.69	-91.3%
Net income/(loss)	$	0.19	$	0.37	-48.6%	$	(0.40)	$	1.45	*
Diluted Earnings/(Loss) Per Share:
Income/(loss) from continuing operations	$	0.19	$	0.37	-48.6%	$	(0.46)	$	0.76	*
Discontinued operations, net of income taxes		-		-	N/A		0.06		0.69	-91.3%
Net income/(loss)	$	0.19	$	0.37	-48.6%	$	(0.40)	$	1.45	*
Dividends Per Share	$	0.060	$	0.230	-73.9%	$	0.750	$	0.865	-13.3%
* Represents an increase or decrease in excess of 100%.
See footnotes page for additional information.

THE NEW YORK TIMES COMPANY
SEGMENT INFORMATION
(Dollars in thousands)
		Fourth Quarter					Full Year
		2008		2007	% Change		2008		2007	% Change
Revenues
News Media Group	$	742,247	$	835,044	-11.1%	$	2,833,561	$	3,092,394	-8.4%
About Group		29,807		30,711	-2.9%		115,295		102,683	12.3%
Total	$	772,054	$	865,755	-10.8%	$	2,948,856	$	3,195,077	-7.7%
Operating Profit(Loss)
News Media Group	$	65,191	$	109,149	-40.3%	$	(30,392)	$	248,567	*
About Group		9,969		11,571	-13.8%		39,390		34,703	13.5%
Corporate		(11,822)		(19,210)	-38.5%		(49,634)		(55,841)	-11.1%
Total	$	63,338	$	101,510	-37.6%	$	(40,636)	$	227,429	*
Operating Profit(Loss) Before Depreciation & Amortization and Special Items (f)
News Media Group	$	114,829	$	161,006	-28.7%	$	291,849	$	456,251	-36.0%
About Group		13,182		15,439	-14.6%		51,641		49,078	5.2%
Corporate		(9,560)		(17,245)	-44.6%		(41,838)		(48,761)	-14.2%
Total	$	118,451	$	159,200	-25.6%	$	301,652	$	456,568	-33.9%
* Represents a decrease in excess of 100%.
See footnotes page for additional information.

THE NEW YORK TIMES COMPANY
NEWS MEDIA GROUP REVENUES BY OPERATING SEGMENT
(Dollars in thousands)
		2008
		Fourth Quarter	% Change vs. 2007		Full Year	% Change vs. 2007
The New York Times Media Group
Advertising	$	294,975	-16.9%	$	1,076,582	-12.0%
Circulation		171,263	4.1%		668,129	3.4%
Other		50,349	1.6%		180,936	-1.2%
Total	$	516,587	-9.2%	$	1,925,647	-6.2%
New England Media Group
Advertising	$	78,523	-21.3%	$	319,114	-18.0%
Circulation		40,141	2.8%		154,201	-1.5%
Other		12,305	-17.4%		50,334	8.4%
Total	$	130,969	-14.8%	$	523,649	-11.6%
Regional Media Group
Advertising	$	67,251	-20.9%	$	276,463	-18.2%
Circulation		22,264	2.2%		87,824	0.6%
Other		5,176	-5.1%		19,978	-12.8%
Total	$	94,691	-15.6%	$	384,265	-14.3%
Total News Media Group
Advertising	$	440,749	-18.4%	$	1,672,159	-14.2%
Circulation		233,668	3.7%		910,154	2.3%
Other (a)		67,830	-2.9%		251,248	-0.5%
Total	$	742,247	-11.1%	$	2,833,561	-8.4%
See footnotes page for additional information.

THE NEW YORK TIMES COMPANY
FOOTNOTES
(Dollars in thousands)
(a)	Other revenues consist primarily of revenues from news services/syndication, commercial printing, digital archives, direct mail advertising services, rental income, and wholesale delivery operations, which the Company closed in January 2009.
(b)	Fourth Quarter 2008 & 2007
	The Company's annual impairment tests, in accordance with Statement of Financial Accounting Standards ("FAS") No. 142 ("FAS 142"), Goodwill and Other Intangible Assets, resulted in non-cash impairment charges of $19.2 million ($10.7 million after tax or $.07 per share) in 2008 related to the write-down of an intangible asset at The International Herald Tribune, whose results are included in The New York Times Media Group ("NYTMG") and $11.0 million ($6.4 million after tax, or $.04 per share) in 2007 related to a write-down of an intangible asset at the New England Media Group ("NEMG"), which principally includes The Boston Globe, Boston.com and the Worcester Telegram & Gazette. The NYTMG and NEMG are part of the News Media Group reportable segment.
	Third Quarter 2008
	The Company recorded an estimated non-cash charge of $160.4 million ($109.3 million after tax or $.76 per share) related to a write-down of certain assets at the NEMG in the third quarter of 2008. In accordance with FAS 142, goodwill and indefinite-lived intangible assets are required to be tested for impairment annually or if certain circumstances indicate a possible impairment may exist. In addition, in accordance with FAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets ("FAS 144"), other long-lived assets that are amortized (customer lists, property, plant and equipment and other assets) are required to be tested for impairment if certain circumstances indicate that a possible impairment may exist. Due to certain impairment indicators, including the continued decline in print advertising revenue affecting the newspaper industry and lower-than-expected current and projected operating results, the Company was required to perform an interim impairment test in the third quarter of 2008 at the NEMG. The Company finalized its interim third-quarter impairment analysis in the fourth quarter of 2008, which did not result in any additional charges at the NEMG.
	First Quarter 2008
	The Company recorded a non-cash charge of $18.3 million ($10.4 million after tax, or $.07 per share) for the write-down of assets for a systems project at the News Media Group. The Company reduced the scope of a major advertising and circulation project to decrease capital spending, which resulted in the write-down of previously capitalized costs.
(c)	In 2006 the Company announced plans to consolidate the printing operations of a facility it leased in Edison, N.J., into its newest facility in College Point, N.Y. As part of the consolidation, the Company originally planned to sublease the Edison facility through 2018, the end of the then-existing lease term. After evaluating the options with respect to the lease, the Company decided it was financially prudent to purchase the Edison facility and sell it, with two adjacent properties it already owned, to a third party. The purchase and sale of the Edison facility closed in the second quarter of 2007, relieving the Company of rental terms that were above market as well as restoration obligations under the original lease. As a result of the sale, the Company recognized a pre-tax loss of $68.2 million in the second quarter of 2007.
(d)	The Company had non-cash charges of $5.6 million ($3.5 million after tax, or $.02 per share) in the third quarter of 2008, and $7.1 million ($4.1 million after tax, or $.03 per share) in the fourth quarter of 2007 related to the write-down of our 49 percent investment in Metro Boston LLC, which publishes a free daily newspaper in the Greater Boston area. This charge is included in "Net income/(loss) from joint ventures" in the Condensed Consolidated Statements of Operations.
(e)	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 $575 million. Under FAS 144, the Broadcast Media Group is treated as a discontinued operation. The Company has made reclassifications in all periods presented to reflect this change.
	Results for the Broadcast Media Group, included within discontinued operations, for the fourth quarter and full year of 2008 and 2007 are below. In 2008, the gain on sale included post-closing adjustments.
		Fourth Quarter				Full Year
			2008		2007		2008		2007
	Revenues	$	-	$	-	$	-	$	46,702
	Pre-tax income	$	-	$	-	$	-	$	9,848
	Income tax expense		-		-		-		(4,095)
	Income from discontinued operations,
	net of income taxes - Broadcast Media Group		-		-		-		5,753
	Gain on sale of Broadcast Media Group,
	net of income taxes:
	Gain/(loss) on sale, before taxes		-		127		(565)		190,007
	Income tax (benefit)/expense		-		(226)		(8,865)		95,995
	Gain on sale, net of income taxes		-		353		8,300		94,012
	Net income	$	-	$	353	$	8,300	$	99,765
(f)	See "Reconciliation of Non-GAAP Information" for reconciliations of operating profit(loss) to operating profit(loss) before depreciation & amortization and excluding special items.

THE NEW YORK TIMES COMPANY

RECONCILIATION OF NON-GAAP INFORMATION

(Dollars in thousands, except per share data)

In this release, the Company has included non-GAAP financial information with respect to earnings per share (EPS) from continuing operations excluding special items, operating profit(loss) before depreciation and amortization and excluding special items, and operating costs before depreciation and amortization, severance and raw materials. The Company has included these non-GAAP financial measures because management reviews them on a regular basis and uses them to evaluate and manage the performance of the operations. Management believes that, for the reasons outlined below, these non-GAAP financial measures provide useful information to investors as a supplement to reported EPS from continuing operations, operating profit(loss) and operating costs. However, these measures should be evaluated only in conjunction with the comparable GAAP financial measures and should not be viewed as alternative or superior measures of GAAP results.

EPS from continuing operations excluding special items provide useful information in evaluating the Company’s period-to-period performance because it eliminates items that the Company does not consider to be indicative of earnings from ongoing operating activities. Operating profit(loss) before depreciation and amortization and excluding special items is useful in evaluating the Company’s ongoing cash-generating ability as it excludes the significant non-cash impact of depreciation and amortization as well as items, if any, not indicative of ongoing operating activities. Total operating costs include depreciation and amortization, severance and raw materials. Total operating costs excluding depreciation and amortization, severance and raw materials provide investors with helpful supplemental information on the Company’s underlying operating costs that is used by management in its financial and operational decision-making.

Reconciliations of these non-GAAP financial measures from, respectively, EPS from continuing operations, operating profit(loss) and operating costs, the most directly comparable GAAP items, are set out in the tables below.

Reconciliation of earnings per share from continuing operations excluding special items
	Fourth Quarter
		2008		2007		% Change
Earnings per share from continuing operations	$	0.19	$	0.37		-48.6%
Add:
Write-down of assets		0.07		0.04
Write-down of Metro Boston LLC interest		-		0.03
Earnings per share from continuing operations
excluding special items	$	0.26	$	0.44		-40.9%
Reconciliation of operating profit(loss) before depreciation & amortization and special items
		Fourth Quarter 2008
		News Media		About				Total
		Group		Group		Corporate		Company
Operating profit(loss)	$	65,191	$	9,969	$	(11,822)	$	63,338
Add:
Depreciation & amortization		30,480		3,213		2,262		35,955
Write-down of assets		19,158		-		-		19,158
Operating profit(loss) before depreciation &
amortization and special items	$	114,829	$	13,182	$	(9,560)	$	118,451
	Fourth Quarter 2007
		News Media		About				Total
		Group		Group		Corporate		Company
Operating profit(loss)	$	109,149	$	11,571	$	(19,210)	$	101,510
Add:
Depreciation & amortization		40,857		3,868		1,965		46,690
Write-down of assets		11,000		-		-		11,000
Operating profit(loss) before depreciation &
amortization and special items	$	161,006	$	15,439	$	(17,245)	$	159,200
	% Change
		News Media		About				Total
		Group		Group		Corporate		Company
Operating profit(loss)		-40.3%		-13.8%		-38.5%		-37.6%
Add:
Depreciation & amortization		-25.4%		-16.9%		15.1%		-23.0%
Write-down of assets		74.2%		N/A		N/A		74.2%
Operating profit(loss) before depreciation &
amortization and special items		-28.7%		-14.6%		-44.6%		-25.6%

THE NEW YORK TIMES COMPANY
RECONCILIATION OF NON-GAAP INFORMATION (continued)
(Dollars in thousands)
Reconciliation of operating profit(loss) before depreciation & amortization and special items
	Full Year 2008
		News Media		About				Total
		Group		Group		Corporate		Company
Operating profit(loss)	$	(30,392)	$	39,390	$	(49,634)	$	(40,636)
Add:
Depreciation & amortization		124,362		12,251		7,796		144,409
Write-down of assets		197,879		-		-		197,879
Operating profit(loss) before depreciation &
amortization and special items	$	291,849	$	51,641	$	(41,838)	$	301,652
	Full Year 2007
		News Media		About				Total
		Group		Group		Corporate		Company
Operating profit(loss)	$	248,567	$	34,703	$	(55,841)	$	227,429
Add:
Depreciation & amortization		168,106		14,375		7,080		189,561
Write-down of assets		11,000		-		-		11,000
Net loss on sale of assets		68,156		-		-		68,156
Gain on sale of WQEW-AM		(39,578)		-		-		(39,578)
Operating profit(loss) before depreciation &
amortization and special items	$	456,251	$	49,078	$	(48,761)	$	456,568
	% Change
		News Media		About				Total
		Group		Group		Corporate		Company
Operating profit(loss)		*		13.5%		-11.1%		*
Add:
Depreciation & amortization		-26.0%		-14.8%		10.1%		-23.8%
Write-down of assets		*		N/A		N/A		*
Net loss on sale of assets		N/A		N/A		N/A		N/A
Gain on sale of WQEW-AM		N/A		N/A		N/A		N/A
Operating profit(loss) before depreciation &
amortization and special items		-36.0%		5.2%		-14.2%		-33.9%
* Represents an increase or decrease in excess of 100%.

THE NEW YORK TIMES COMPANY
RECONCILIATION OF NON-GAAP INFORMATION (continued)
(Dollars in thousands)
Reconciliation of total Company operating costs before depreciation & amortization, severance and raw materials
	Fourth Quarter					Full Year
		2008		2007	% Change		2008		2007	% Change
Total Company
Operating costs	$	689,558	$	753,245	-8.5%	$	2,791,613	$	2,928,070	-4.7%
Less:
Depreciation & amortization		35,955		46,690			144,409		189,561
Severance		24,088		17,805			80,975		35,435
Operating costs before depreciation &
amortization and severance		629,515		688,750	-8.6%		2,566,229		2,703,074	-5.1%
Less:
Raw materials		68,837		63,299			250,843		259,977
Operating costs before depreciation &
amortization, severance and raw materials	$	560,678	$	625,451	-10.4%	$	2,315,386	$	2,443,097	-5.2%
Reconciliation of News Media Group operating costs before depreciation & amortization and severance
	Fourth Quarter					Full Year
		2008		2007	% Change		2008		2007	% Change
News Media Group
Operating costs	$	657,898	$	714,895	-8.0%	$	2,666,074	$	2,804,249	-4.9%
Less:
Depreciation & amortization		30,480		40,857			124,362		168,106
Severance		24,088		17,805			79,551		34,933
Operating costs before depreciation &
amortization and severance	$	603,330	$	656,233	-8.1%	$	2,462,161	$	2,601,210	-5.3%
Reconciliation of About Group operating costs before depreciation & amortization
	Fourth Quarter					Full Year
		2008		2007	% Change		2008		2007	% Change
About Group
Operating costs	$	19,838	$	19,140	3.6%	$	75,905	$	67,980	11.7%
Less:
Depreciation & amortization		3,213		3,868			12,251		14,375
Operating costs before depreciation &
amortization	$	16,625	$	15,272	8.9%	$	63,654	$	53,605	18.7%

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

EX-99.2

Exhibit 99.2

The New York Times Company Reports December Revenues

NEW YORK--(BUSINESS WIRE)--January 28, 2009--The New York Times Company announced today that in December total Company revenues from continuing operations decreased 9.1% compared with the same month a year ago. Advertising revenues decreased 15.7% and circulation revenues increased 3.0%.

All comparisons are for December 2008 to December 2007 unless otherwise noted:

News Media Group

Advertising revenues for the News Media Group declined 15.8%.

The New York Times Media Group – Advertising revenues for The New York Times Media Group decreased 14.1%. National advertising revenues decreased as weakness in the studio entertainment, financial services, telecommunications and technology products categories was partially offset by strong growth in corporate advertising. Retail advertising revenues declined mainly due to decreases in department store advertising. Classified advertising revenues were down because of weakness in real estate, help-wanted and automotive advertising.

New England Media Group – Advertising revenues for the New England Media Group decreased 18.2%. National advertising revenues were lower mainly because of decreases in the telecommunications, studio entertainment, media and financial services categories. Retail advertising revenues declined primarily due to weakness in the department and other stores, furniture/home furnishing and jewelry/luggage categories. Classified advertising revenues were lower due to softness in real estate, help-wanted and automotive advertising.

Regional Media Group – Advertising revenues for the Regional Media Group decreased 20.3%. Retail advertising revenues were down mainly because of declines in the home furnishing, telecommunication, specialty store and grocery categories. Classified advertising revenues decreased due to weakness in automotive, help-wanted and real estate advertising.

Internet advertising revenues included in the News Media Group decreased 12.3% in December because of weakness in both display and online classified advertising. In the fourth quarter, Internet advertising revenues included in the News Media Group were down 3.2% compared with the 2007 fourth quarter, as declines in the online classified categories offset modest growth in display advertising. For the year, Internet advertising revenues included in the News Media Group were up 8.7% compared with 2007, as growth in display advertising offset decreases in online recruitment advertising.

Circulation revenues for the News Media Group grew 3.0% as The New York Times, New England and Regional Media Groups all benefited from higher prices.

About Group

Advertising revenues at the About Group (which includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Caloriecount.about.com) decreased 13.2% in December because of declines in display and cost-per-click advertising. For the 2008 full year, advertising revenues at the About Group increased 10.4% compared with the same period in 2007, as growth in cost-per-click advertising offset modest declines in display advertising.

Other Data

Internet Businesses: Internet businesses include NYTimes.com, About.com, Boston.com and other Company Web sites. Total Internet revenues decreased 11.4% and Internet advertising revenues decreased 12.7% in December. In total, Internet businesses accounted for 11.7% of total revenues in December versus 12.0% in December 2007.

For the 2008 fourth quarter, total Internet revenues decreased 2.9% and Internet advertising revenues decreased 3.5%. In total, Internet businesses accounted for 12.0% of total revenues in the fourth quarter versus 11.0% in 2007 fourth quarter. For 2008, total Internet revenues rose 6.5% and Internet advertising revenues increased 9.3% compared with 2007. In total, Internet businesses accounted for 11.9% of total revenues in 2008 versus 10.3% in 2007.

In addition, The New York Times Company had the 12th largest presence on the Web, with 50.8 million unique visitors in the United States in December 2008 according to Nielsen Online, up about 4% from 48.7 million unique visitors in December 2007. Also according to Nielsen Online, NYTimes.com had 18.2 million unique visitors in December versus 17.2 million in December 2007, up about 6%, 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 2008 revenues of $2.9 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other daily newspapers, WQXR-FM and more than 50 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
2008 TOTAL COMPANY REVENUES (a)
($ 000's)
	December					Full Year
					%					%
	2008		2007		Change	2008		2007		Change
Advertising Revenues
News Media
National	$	70,303	$	81,455	-13.7	$	857,616	$	945,480	-9.3
Retail		38,861		44,833	-13.3		397,949		451,621	-11.9
Classified		16,992		23,817	-28.7		357,867		489,221	-26.8
Other Ad Revenue		4,315		4,920	-12.3		58,727		63,699	-7.8
Total News Media Group		130,470		155,025	-15.8		1,672,159		1,950,021	-14.2
About Group		8,182		9,430	-13.2		107,540		97,447	+10.4
Total Ad Revenues from Continuing Operations		138,652		164,455	-15.7		1,779,699		2,047,468	-13.1
Circulation Revenues		70,156		68,121	+3.0		910,154		889,882	+2.3
Other Revenues (b)		22,715		22,258	+2.1		259,003		257,727	+0.5
Total Company Revenues from Continuing Operations	$	231,523	$	254,834	-9.1	$	2,948,856	$	3,195,077	-7.7
Discontinued Operations: Broadcast Media Group (c)		0		0	N/A		0		46,702	N/A

^(a) Numbers may not add due to rounding.

^(b) Primarily includes revenues from news services/syndication, commercial printing, digital archives, direct mail advertising services, rental income and wholesale delivery operations, which the Company closed in January 2009.

^(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
2008 TOTAL COMPANY REVENUES (a)
($ 000's)
	Fourth Quarter
					%
	2008		2007		Change
Advertising Revenues
News Media
National	$	241,142	$	283,424	-14.9
Retail		116,760		137,441	-15.0
Classified		68,137		101,485	-32.9
Other Ad Revenue		14,709		17,462	-15.8
Total News Media Group		440,749		539,813	-18.4
About Group		28,038		29,231	-4.1
Total Ad Revenues from Continuing Operations		468,787		569,043	-17.6
Circulation Revenues		233,668		225,344	+3.7
Other Revenues (b)		69,599		71,368	-2.5
Total Company Revenues from Continuing Operations	$	772,054	$	865,755	-10.8
Discontinued Operations: Broadcast Media Group (c)		0		0	N/A

^(a) Numbers may not add due to rounding.

^(b) Primarily includes revenues from news services/syndication, commercial printing, digital archives, direct mail advertising services, rental income and wholesale delivery operations, which the Company closed in January 2009.

^(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
2008 ADVERTISING REVENUES (a)
($ 000's)
	December					Full Year
					%					%
	2008		2007		Change	2008		2007		Change
News Media Group
New York Times Media Group	$	87,595	$	101,954	-14.1	$	1,076,582	$	1,222,811	-12.0
New England Media Group		23,021		28,149	-18.2		319,114		389,178	-18.0
Regional Media Group		19,854		24,922	-20.3		276,463		338,032	-18.2
Total News Media Group		130,470		155,025	-15.8		1,672,159		1,950,021	-14.2
About Group		8,182		9,430	-13.2		107,540		97,447	+10.4
Total Ad Revenues from Continuing Operations	$	138,652	$	164,455	-15.7	$	1,779,699	$	2,047,468	-13.1
Discontinued Operations: Broadcast Media Group (b)		0		0	N/A		0		45,745	N/A

^(a) Numbers may not add due to rounding.

^(b) 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
2008 ADVERTISING REVENUES (a)
($ 000's)
	Fourth Quarter
					%
	2008		2007		Change
News Media Group
New York Times Media Group	$	294,975	$	355,037	-16.9
New England Media Group		78,523		99,764	-21.3
Regional Media Group		67,251		85,012	-20.9
Total News Media Group		440,749		539,813	-18.4
About Group		28,038		29,231	-4.1
Total Ad Revenues from Continuing Operations	$	468,787	$	569,043	-17.6
Discontinued Operations: Broadcast Media Group (b)		0		0	N/A

^(a) Numbers may not add due to rounding.

^(b) 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
2008 NEWS MEDIA GROUP AD REVENUE GROWTH
BY CLASSIFIED CATEGORY
	% Change	% Change	% Change
	Dec. '08	Q4 '08	2008
	vs. Dec. '07	vs. Q4 '07	vs. 2007
Help-Wanted	-41.4	-45.1	-37.7
Real Estate	-33.1	-33.9	-27.6
Automotive	-21.6	-30.2	-22.9
Other	-15.9	-15.5	-8.3
Total Classified	-28.7	-32.9	-26.8

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
This press release can be downloaded from www.nytco.com