The New York Times Company Announces Plan to Sell the Boston Globe and Related Properties

  The New York Times Company Announces Plan to Sell the Boston Globe and
  Related Properties

Business Wire

NEW YORK -- February 20, 2013

The New York Times Company (NYSE: NYT) today announced that it plans to sell
its New England Media Group, including The Boston Globe and its related
properties, and that it has retained Evercore Partners to advise the Company
and manage the sales process.

“Our plan to sell the New England Media Group demonstrates our commitment to
concentrate our strategic focus and investment on The New York Times brand and
its journalism,” said Mark Thompson, president and CEO of The New York Times
Company. “The Boston Globe and the Worcester Telegram & Gazette are
outstanding newspapers and they and their related digital properties are
well-managed leaders in their markets with real opportunities for future
development. We are very proud of our association with the Globe and the
Telegram & Gazette, but given the differences between these businesses and The
New York Times, we believe that a sale is in the best long-term interests of
these properties and the employees who work for them as well as in the best
interests of our shareholders.”

The principal properties that make up the New England Media Group are:

  *The Boston Globe
  *BostonGlobe.com
  *Boston.com
  *Worcester Telegram & Gazette
  *Telegram.com
  *GlobeDirect, the Globe’s direct mail marketing company

Also included in the sale is the Company’s 49 percent interest in Metro
Boston.

There can be no assurance that any transaction will take place. Additional
details will be provided when and if the Company enters into a transaction. As
a matter of policy, the Company will not comment upon any proposals,
discussions or rumors regarding the proposed sale.

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 risks detailed from time to time in The New York Times Company’s
publicly filed documents, including the Company’s Annual Report on Form 10-K
for the year ended December 25, 2011. The New York Times Company undertakes no
obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.

About The New York Times Company

The New York Times Company, a leading global, multimedia news and information
company with 2012 revenues of $2.0 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, NYTimes.com, BostonGlobe.com,
Boston.com and related properties. The Company’s core purpose is to enhance
society by creating, collecting and distributing high-quality news and
information.

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

Contact:

The New York Times Company
Media:
Eileen Murphy, 212-556-1982
eileen.murphy@nytimes.com
or
Abbe Serphos, 212-556-4425
serphos@nytimes.com
or
Investors:
Paula Schwartz, 212-556-5224
paula.schwartz@nytimes.com
or
Andrea Passalacqua, 212-556-7354
andrea.passalacqua@nytimes.com
 
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