EX-99.2 5 dex992.htm PRESS RELEASE DATED NOVEMBER 4, 2010 Press Release dated November 4, 2010

 

Exhibit 99.2

LOGO

Press Release

 

For Investors:    Paula Schwartz, 212-556-5224; paula.schwartz@nytimes.com
For Media:    Abbe Serphos, 212-556-4425; serphos@nytimes.com
       This press release can be downloaded from www.nytco.com

The New York Times Company Announces Completion of

$225 Million Offering of 6.625% Senior Notes Due 2016

NEW YORK, November 4, 2010 – The New York Times Company (NYSE: NYT) announced today that it has closed its offering of $225 million aggregate principal amount of 6.625% senior notes due 2016. The Company intends to use the net proceeds for general corporate purposes including, among other things, to pay down debt and other financial obligations as part of the Company’s refinancing strategy.

“Our ability to execute this transaction on these terms underscores the confidence that the financial and investment communities have in our future,” said Janet L. Robinson, chief executive officer, The New York Times Company.

Barclays Capital acted as the sole book-running manager of the offering.

The notes were offered and sold to “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in reliance on Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities. The notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

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, material increases in newsprint prices and the development of our digital businesses. 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 27, 2009. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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