Exhibit 99.1

The New York Times Company Reports 2011 Second-Quarter Results

NEW YORK--(BUSINESS WIRE)--July 21, 2011--The New York Times Company (NYSE: NYT) announced today a 2011 second-quarter diluted loss per share from continuing operations of $.81 compared with diluted earnings per share from continuing operations of $.21 in the same period of 2010. The loss resulted from a non-cash charge of $.93 per share for the write-down of assets at the News Media Group, primarily goodwill at the Regional Media Group. Excluding severance and the special items discussed below, diluted earnings per share from continuing operations were $.14 in the second quarter of 2011 compared with $.18 in the second quarter of 2010.

The Company had an operating loss of $114.1 million in the second quarter of 2011 compared with operating profit of $60.8 million in the same period of 2010. Excluding depreciation, amortization, severance and the special items in 2011 discussed below, operating profit was $82.9 million in the second quarter of 2011 compared with $92.6 million in the second quarter of 2010.

“The second quarter was a historic one for our Company, as we successfully launched The New York Times digital subscriptions and began to see the early effect on our overall financial performance,” said Janet L. Robinson, president and chief executive officer, The New York Times Company. “The positive consumer response to the digital subscription packages is a strong indication of the value that users place on our high-quality news, analysis and commentary. Our digital model exemplifies our growing ability to capitalize on secular trends that show consumer willingness to pay for content across multiple digital platforms.

“We are pleased with how this initiative is rolling out, in particular performance of key metrics, including the volume of paid digital subscriptions, overall traffic rates and digital advertising revenues. We also continued to post solid year-over-year gains in digital advertising revenues at the News Media Group in the second quarter. In addition, during the quarter the rate of home-delivery circulation declines slowed moderately, as we observed an uptick in new home-delivery orders and a decrease in attrition following the launch as print subscribers of all frequencies receive all digital access at no additional cost.

“The digital subscription model is a long-term effort, and its full impact on revenues will be more evident over the course of the year as we progress past the early stages of the plan. Our ability to further monetize our digital content will provide us with a significant new revenue stream in the second half of this year.

“Economic and industry conditions continue to present challenges. During the second quarter, the business climate did not change, as advertisers remained sensitive to the uneven economic environment and to global events.

“We remained committed to aggressively managing operating expenses, even as we continue to invest in our high-quality journalism, new products and digital initiatives across our businesses.

“We have managed our asset portfolio to maintain its alignment with our core operations and strategic initiatives, leading to the sale of more than half of our Fenway Sports Group stake at the beginning of the third quarter for $117 million, a deal that tripled our initial investment, and we are seeing robust demand for our remaining interest as well.

“Over the past two years we have taken decisive actions to strengthen the Company's liquidity position and improve its debt profile. These considerable and focused efforts will allow us to prepay the $250 million 14 percent notes on August 15, 2011, more than three years before the notes become due, which will provide us with increased cash flows and financial flexibility.”

Comparisons

Unless otherwise noted all comparisons are for the second quarter of 2011 to the second quarter of 2010. This release includes non-GAAP financial measures, a discussion of management's reasons for the presentation of these non-GAAP financial measures and reconciliations to the most comparable GAAP financial measures.

The second-quarter 2011 results included the following special items:

The second-quarter 2010 results included the following special item:

In addition to these special items, the Company had $1.9 million ($1.1 million after tax or $.00 per share) in severance costs in the second quarter of 2011 compared with $1.4 million ($0.8 million after tax or $.00 per share) in the second quarter of 2010.

Second-Quarter Results from Continuing Operations

Revenues

Total revenues decreased 2.2 percent to $576.7 million from $589.6 million. Advertising revenues declined 4.0 percent, circulation revenues were flat and other revenues decreased 1.0 percent.

The increase in digital advertising revenues, which rose 2.6 percent, partially offset a 6.4 percent decrease in print advertising revenues. Circulation revenues were on a par with the second quarter last year as the introduction of digital subscriptions at The Times offset a decline in print copies sold across the News Media Group.

Operating Costs

Operating costs decreased 0.7 percent to $525.2 million from $528.8 million. Depreciation and amortization decreased to $29.5 million from $30.3 million.

Excluding depreciation, amortization and severance, operating costs decreased 0.6 percent to $493.8 million from $497.0 million as lower compensation costs were partially offset by higher promotion and newsprint expense. Higher promotion costs were due to the launch of digital subscription packages at The Times in the second quarter of 2011.

Newsprint expense increased 5.8 percent, with 11.0 percent from higher pricing offset in part by 5.2 percent from lower consumption.

Second-Quarter Business Segment Results

News Media Group

Total News Media Group revenues decreased 1.3 percent to $548.9 million from $555.9 million. Advertising revenues declined 2.5 percent, while circulation and other revenues were both flat.

The increase in digital advertising revenues, which rose 15.5 percent, partially offset a 6.4 percent decrease in print advertising revenues. Circulation revenues were on a par with the second quarter last year as the introduction of digital subscriptions at The Times offset a decline in print copies sold across the News Media Group.

News Media Group operating costs decreased 0.3 percent to $499.9 million from $501.5 million. Excluding depreciation, amortization and severance, operating costs decreased 0.2 percent to $471.7 million from $472.6 million as lower compensation costs were partially offset by increases in promotion and newsprint expense.

The News Media Group had an operating loss of $116.6 million in the second quarter of 2011 compared with an operating profit of $54.4 million in the second quarter of 2010. Excluding depreciation, amortization, severance and special items, operating profit decreased 7.3 percent to $77.2 million from $83.3 million due to lower advertising revenues.

About Group

About Group revenues decreased 17.3 percent to $27.8 million from $33.7 million mainly due to lower cost-per-click and display advertising. Cost-per-click advertising declined as design changes in the cost-per-click advertisements served by Google had a negative effect on click-through rates in the second quarter. The About Group also experienced a negative impact on page views due to an increase in competition in the content space and the algorithm changes Google implemented during the first quarter of 2011.

About Group operating costs decreased 11.4 percent to $16.2 million from $18.3 million. Excluding depreciation, amortization and severance, operating costs decreased 15.3 percent to $13.1 million from $15.5 million primarily because of lower compensation costs.

Operating profit decreased 24.4 percent to $11.6 million from $15.3 million. Excluding depreciation, amortization and severance, operating profit decreased 19.1 percent to $14.7 million from $18.2 million, due to lower advertising revenues.

Other Financial Data

Digital

Digital businesses include NYTimes.com, About.com, Boston.com, other Company Web sites and related digital products. In the second quarter, total digital advertising revenues rose 2.6 percent to $84.6 million from $82.4 million. Digital advertising revenues at the News Media Group increased 15.5 percent to $58.2 million from $50.4 million mainly due to strong growth in national display advertising. Digital advertising revenues as a percentage of total Company advertising revenues were 28.0 percent for the second quarter of 2011 compared with 26.2 percent in the second quarter of 2010.

In the first half of 2011, the Company's total digital advertising revenues increased 3.5 percent to $168.2 million from $162.4 million. Digital advertising revenues at the News Media Group increased 15.2 percent to $112.1 million from $97.3 million. Digital advertising revenues as a percentage of total Company advertising revenues were 28.0 percent for the first half of 2011 compared with 25.9 percent in the first half of 2010.

The Times introduced digital subscription packages on NYTimes.com and across other digital platforms in Canada in mid-March and globally at the beginning of the second quarter. Paid digital subscribers to the digital subscription packages totaled approximately 224,000 as of the end of the second quarter. In addition, paid digital subscribers to e-readers and replica editions totaled approximately 57,000, for a total paid digital subscribers of 281,000 as of the end of the second quarter.

In addition to these paid digital subscribers, as of the end of the second quarter of 2011, The Times had approximately 100,000 highly engaged users sponsored by Ford Motor Company's luxury brand, Lincoln, who have free access to NYTimes.com and smartphone apps until the end of the year, and approximately 756,000 home-delivery subscribers with linked digital accounts, who receive free digital access.

In total, The Times had paid and sponsored relationships with over 1 million digital users as of the end of the second quarter of 2011.

Joint Ventures

Income from joint ventures was $2.8 million compared with $7.7 million in the second quarter of 2010. Joint venture results in the second quarter of 2011 were negatively impacted by FSG's acquisition of Liverpool Football Club, mainly due to the amortization expense associated with the purchase.

On July 1, 2011, the Company sold 390 of its remaining 700 units in FSG for an aggregate of $117 million in cash. The Company estimates a pre-tax gain of approximately $64 million, which will be recorded in the third quarter of 2011. Following the sale, the Company owns 310 units, or approximately 7.3 percent of FSG. The Company intends to continue to explore the sale of its remaining interest in FSG, in whole or in parts.

Interest Expense-net

Interest expense, net increased to $25.2 million from $20.6 million as a result of higher average debt outstanding.

Income Taxes

The Company had an income tax benefit of $16.6 million (effective tax rate of 12.2 percent) on a pre-tax loss of $136.4 million in the second quarter of 2011 and an income tax benefit of $15.2 million (effective tax rate of 11.7 percent) on a pre-tax loss of $129.8 million in the first half of 2011. The effective tax rate in the second quarter and first half of 2011 was unfavorably affected because a portion of the non-cash charge for the write-down of the Regional Media Group's goodwill is non-deductible.

The Company's effective income tax rate was 44.6 percent in the second quarter of 2010. The effective tax rate for the first half of 2010 was 53.4 percent, primarily because of a $10.9 million one-time tax charge for the reduction in future tax benefits for certain retiree health benefits resulting from the federal health care legislation enacted in the first quarter of 2010.

Liquidity

The following table details the original maturities and carrying values of the Company's debt and capital lease obligations as of June 26, 2011. Net debt represents debt and capital lease obligations, net of cash and short-term investments. Cash in the table below excludes restricted cash of approximately $29 million for certain collateral requirements.

The Company believes net debt, a non-GAAP measure, provides a useful measure of the Company's liquidity and overall debt position.

In early June 2011, the Company completed a new $125 million asset-backed five-year revolving credit facility. Borrowings under the credit facility will be secured by a lien on certain advertising receivables. This new facility replaced the Company's $400 million revolving credit facility, which was to expire on June 21, 2011. As of June 26, 2011, there were no outstanding borrowings under the $125 million credit facility.

In July, the Company notified the holders of its $250 million 14.053% notes due January 15, 2015, of its election to prepay the notes in full, on August 15, 2011. The estimated prepayment will total approximately $279 million, which includes the principal amount of the notes, all accrued and unpaid interest, and a make-whole premium due in connection with the prepayment. While the Company will incur a $46 million loss on the prepayment in the third quarter, interest expense savings will exceed $39 million annually through January 15, 2015. The Company will fund the prepayment from available cash.

Capital Expenditures

Capital expenditures totaled approximately $11 million in the second quarter of 2011. Year-to-date capital expenditures totaled approximately $21 million.

Outlook

In the third quarter of 2011, the Company currently expects similar advertising revenue trends to those of the second quarter.

Total circulation revenues are expected to increase in the low-single digits in the third quarter.

The Company expects operating costs to decline in the low-single digits in the second half of the year, with most of the decline occurring in the fourth quarter.

The Company expects income from joint ventures to be $3 to $4 million in the second half of the year, with approximately $1 million in the third quarter. Joint venture income in 2011 will be negatively impacted by FSG's acquisition of Liverpool Football Club, mainly due to amortization expense associated with the purchase, and will reflect, in the second half of the year, the Company's 7.3 percent ownership following the partial sale of 390 units in FSG.

In addition, the Company expects the following on a pre-tax basis in 2011:

Conference Call Information

The Company's second-quarter 2011 earnings conference call will be held on Thursday, July 21, at 11:00 a.m. E.T. To access the call, dial 888-677-8756 (in the U.S.) and 913-312-1457 (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 two hours after the call at www.nytco.com/investors. The archive will be available for approximately three months.

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, July 22. The access code is 3178539.

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 26, 2010. 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.

The New York Times Company, a leading media company with 2010 revenues of $2.4 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers 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

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