The New York Times Company Comments
Dear Sir or Madam:
This is a formal response to three items in the profile of The New York Times Company (the “Company”). Please post this response to our profile. We thank you for the work you have done to portray an accurate picture of our Company and for the opportunity to provide clarity on these items.
Under “Ownership Information” on page 12 of our profile, you state that members of the 1997 Trust control 5.9% of the Company’s voting power. The Ochs/Sulzberger Family Office has informed the Company that family members currently own or control approximately 27.8 million shares of the Company’s Class A Common Stock, which is approximately 19% of the outstanding Class A shares. This includes ownership by the eight trustees of the family’s 1997 Trust, other members of the family as well as entities that are for their benefit or which they control.
Also under “Ownership Information”, we believe that the number you list with regard to percentage of stock held by institutions is inaccurate. We believe that the percentage held by institutions is closer to 65%.
Lastly, there are a number of inaccuracies in the profile with regard to membership on committees of our Board of Directors. James M. Kilts has been appointed to the Audit Committee. Ellen R. Marram has moved from the Audit Committee to the Compensation Committee. Brenda Barnes is not a member of the Finance Committee. Our Company website nytco.com/corp-governance.html has the most up-to-date information.
Again, we thank you for the opportunity to provide clarity on these items.
Rhonda L. Brauer
Secretary and Corporate Governance Officer