"Expanding KEY to major cities in Europe and the Middle East is a big advantage for our advertisers here in the U.S.," said Denise Warren, senior vice president and chief advertising officer, The New York Times Media Group. "Advertisers are always looking for new ways to extend their brand and KEY is the perfect vehicle to reach an influential international audience in the real estate marketplace."

"KEY will give advertisers a unique opportunity to reach the very affluent audience of the IHT with a glossy magazine dedicated to luxury real estate. Today the global citizen is also a global investor and KEY with the IHT will be the link between home owners, home sellers, developers and marketers of fine properties worldwide," said Jean-Christophe Demarta, international advertising director, The New York Times Media Group.

The reservation close date for KEY, International Edition is Aug. 27. For information on advertising, please contact Andy Wright at 212-556-1050 or wrighah@nytimes.com.

About The New York Times Company

The New York Times Company (NYSE: NYT), a leading media company with 2007 revenues of $3.2 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.

About the International Herald Tribune

The International Herald Tribune (IHT) is the premier international newspaper for opinion leaders and decision-makers around the globe. It combines the extensive resources of its own correspondents with those of The New York Times, is printed at 35 sites throughout the world and is for sale in more than 180 countries. Based in Paris since 1887, the IHT is part of The New York Times Company.

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

SOURCE: The New York Times Company

The New York Times Company
Uchenna Hicks, 212-556-1757
hicksul@nytimes.com
or
International Herald Tribune
Vanessa Whittall, +44 (0) 7887 801 257
vwhittall@iht.com
or
Leach Communications
Meghan Verdon, 212-481-2826
mv@leachcommunications.com

The company plans to expand its board from 13 members to 15 to accommodate the new nominees.

New York Times, whose properties include The Boston Globe, International Herald Tribune and its namesake daily, said its February revenue from continuing operations dipped 2.6 percent on continued weakness in classified advertising. Total advertising sales dropped 6.6 percent to $148.2 million, while circulation revenue rose 2.4 percent to $70.1 million.

New York Times is just one company of many in the sector that continues to struggle with declining ad revenue as consumers shift their focus to the Internet. Newspaper publishers are responding by cutting costs and ramping up Web operations.

The company also announced in February that it planned to eliminate 100 news jobs through attrition, buyouts and, if necessary, layoffs.

BY THE NUMBERS: Analysts surveyed by Thomson Financial expect first-quarter earnings of 14 cents per share on revenue of $752.4 million.

ANALYST TAKE: Lehman Brothers analyst Craig Huber sees increased newsprint prices for the sector, with the average 2008 price estimated to climb 6.2 percent, compared with a prior forecast for an increase of 3.3 percent.

In a March 31 client note, the analyst said Wall Street's estimates for New York Times and its peers are too high. He predicts a quarterly profit of 10 cents per share.

In an overview of the sector earlier this month, Goldman Sachs analyst Peter Appert said the group will likely see a median first-quarter earnings-per-share decline of approximately 26 percent as ad revenue continues to fall.

John Janedis of Wachovia Capital Markets LLC anticipates first-quarter net income of 13 cents per share, saying in a March 18 client note that the New York Times' February revenue results were a bit better than expected.

STOCK PERFORMANCE: Shares of New York Times climbed 8 percent during the quarter. They finished Monday's trading at $19.06.

Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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