The New York Times Company December 6, 2006

Janet Robinson President & Chief Executive Officer The New York Times Company

Janet Robinson President & Chief Executive Officer The New York Times Company Leonard Forman Executive Vice President & Chief Financial Officer The New York Times Company Scott Heekin-Canedy President & General Manager The New York Times Martin Nisenholtz Senior Vice President, Digital Operations The New York Times Company

Significant Changes at The Company

Advertiser & Consumer Expectations Media consumers are embracing the proliferation of choices Advertisers demanding increasingly narrow target audiences

News Media Group: Ad Revenues by Category November 2006 YTD 3% 29% 23% 45% Total 6% 44% 47% 3% Regional 5% 39% 30% 26% New England 2% 20% 14% 64% New York Times Other Ad Rev Total Classified Retail & Preprint Nat’l Media Group

Entertainment Advertising: Strategies Have Changed Studios allocating more ad budgets to the Internet Studios reducing their spending if movies don’t perform well within a couple of weeks Entertainment Ad Revenue: -19% (or $26 million) Nov YTD

New York Times Media Group Advertising Revenue 0% 14% Retail +7% 4% Live Entertainment +4% 5% Telecom % Change Nov YTD Ad Rev

New York Times Media Group Advertising Revenue -1% 20% Classified: -18% 2% Auto -12% 6% Help Wanted +15% 10% Real Estate % Change Nov YTD Ad Rev

New England Media Group Advertising Revenues -11% 39% Classified -8% 30% Retail -16% 6% Entertainment % Change Nov YTD Ad Rev

Regional Media Group Advertising Revenues Ad revenues up 3% Nov YTD Dominant local media

News Media Group Q4 Outlook Slower Ad Revenue Growth Difficult Comparisons Real Estate: slowing growth Entertainment, Help Wanted & Auto: still soft

Focusing Our Strategy Introducing new products & services Pursuing leadership positions in key content verticals Building long-term innovation capability Rebalancing our portfolio Increasing operational efficiency & reducing fixed & variable costs

Powerful & Trusted Brands

Exciting New Magazines

New Print Product Introductions Estimate $30 million revenue in ‘06 Zoned & special sections New ad placements Weekly newspapers

NYTC Aggregates 10 th Largest Online Audience Source: Nielsen//NetRatings Oct. 2006 42,548 New York Times Co. 10 45,382 Disney Internet Grp. 9 49,903 Amazon 8 59,861 InterActiveCorp 7 64,820 News Corp. Online 6 66,649 eBay 5 97,611 Time Warner 4 103,794 Google 3 106,213 Yahoo! 2 106,596 Microsoft 1 Unique Visitors in thousands Company Rank

NYTimes.com Redesign: Engaging Our Readers

Acquisition of Baseline/StudioSystems B2B supplier of of proprietary entertainment information Growing syndication/licensing business

Targeting Local Advertising Launching new local search product Expected to increase traffic to site Local search applications planned for NYTimes.com and Regional sites

Growing Our Online Businesses Digital Operations 4% 6% 8%+ 2004 2005 2006 E % of Company Revenues 2006 Estimated Total Digital Revenues: $270 million

Growing Our Online Businesses * Median of 11 market forecasts For 2006 industry online ad revenues expected to grow 26%* Expect to outperform the industry in 2006 & 2007 In 2007 expect total digital revenues to grow about 30%

Developing Key Content Verticals Augmented digital portfolio with About.com About.com among top sites in key content verticals: Health Food Education

Expanding About.com Exploring opportunities with international audience Added 60 Guides in ’06; Guides now total 570 Engaging audience through more user-generated content

Building on About.com: Calorie-Count.com Offers weight loss & nutritional information Incorporated into About.com Attracts health & nutrition advertising

Strong Revenue Growth at About.com Ad revenues estimated +51% November YTD Operating margin: 38% September YTD & 27% for ownership period in ‘05

Investments: Online Investments & Acquisitions B-to-B supplier of entertainment information News aggregation site Acquisition: Mortgage lead generation company

Investments:

Integrated Print and Digital Ad Teams & Newsrooms Sell audiences, not just platforms Newsrooms more attuned to news consumption habits

Building a Vibrant R&D Capability New products & platforms New tools & services Strategic partnerships & investments

R&D: Closely Linked to Our Operating Units Launched mobile Web sites & launching local search in Boston Looking at high-speed Internet access & location-aware Web-enabled devices

Rebalancing Our Portfolio Continuously evaluating our businesses: Remaining relevant to our strategy: Financial performance Growth Return on investment Sold investment in Discovery Times Channel Proposed sale of Broadcast Media Group Anticipated sale of WQEW-AM

Focused on Reducing Costs Reduced costs & realized gains from productivity by $120 million over the past 2 years

Times Dual-Class Structure Ochs-Sulzberger family owns about 20% of equity Structure was in place before Company went public in 1969 Protects journalistic independence and integrity of The Times

Leonard Forman Executive Vice President & Chief Financial Officer The New York Times Company

Improving Operational Efficiency Avoid $50 million in capex at Edison Expect charges of $104 to $128 million & capex of $135 million ROI of at least 15% Expect to complete in Q2 2008 Anticipate annual savings of $30 million Looking at further consolidation opportunities in New England Consolidating New York printing facilities:

Avoid $50 million in capex at Edison

Expect charges of $104 to $128 million & capex of $135 million

ROI of at least 15%

Expect to complete in Q2 2008

Anticipate annual savings of $30 million

Process Engineering Initiatives Eliminating, consolidating & outsourcing certain tasks Increasing investment in technology Process Engineering Process: Outsourced employee benefit & customer care processes Evaluating outsourcing of other activities

Eliminating, consolidating & outsourcing certain tasks

Increasing investment in technology

Streamlining Our Business Total Company* Change in FTEs, 2006 v. 2004 *Excludes acquisitions & the Broadcast Media Group -6% Total -14% G&A -2% Tech/Prod/Dist 0% Content -17% Sales

Total Company* Change in FTEs, 2006 v. 2004

Newsprint Market Latest newsprint increase has not been implemented in the market Becoming difficult for suppliers to maintain supply/demand balance Newsprint prices may trend lower in ’07 resulting in our cost/ton remaining flat with ‘06

Reducing Newsprint Consumption Converted to lighter-weight paper and have eliminated certain sections Reducing the web width at The Times Expect annual savings of $12 million in ’06 Expect to complete in Q3 ‘07 Expect savings of $4 million in ‘07 Expect annualized savings of $12 million

Significant Cost Savings 2005 & 2006 *Includes further centralization of back office operations & consolidation of data centers. In millions $120 Total $16 Other* $14 Newsprint $40 Productivity $50 Staff Reductions Targeting $65 to $75 million in ‘07

Leveraging Our Investment in Our New Headquarters Expecting to generate $10-$12 million in annual revenues Looking for ways to monetize our investment Planning to lease out at least 5 floors

Creating Value for Our Shareholders Invest in high-return capital projects Make financially & strategically attractive acquisitions and investments Provide a competitive dividend Repurchase our stock Reduce our debt

Assumptions for 2007 Wages: + 2% to 3% Newsprint costs per ton: flat D&A: $195 to $205 million Income from joint ventures: $10 to $15 million Interest expense: $48 to $52 million

Capital Expenditures: 2007 Outlook $15 Web Width Reduction (Q1-Q3) $65-$80 Other Projects $75 Plant Consolidation (Q1-Q4) $30 SAP Project (Q1-Q4) In millions $340-$370 Total $155-170 New Headquarters (Q1-Q3)

Focusing Our Strategy Introducing new products and services Pursuing leadership positions in key content verticals Building long-term innovation capability Rebalancing our portfolio Increasing operational efficiency & reducing costs

Q&A

Forward-Looking Statements Except for the historical information contained herein, the matters discussed in this presentation 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 and material increases in newsprint prices. 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 25, 2005 and Quarterly Report on Form 10-Q for the quarter-ended September 24, 2006. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Except for the historical information contained herein, the matters discussed in this presentation 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 and material increases in newsprint prices. 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 25, 2005 and Quarterly Report on Form 10-Q for the quarter-ended September 24, 2006. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.