Newspaper & Mailroom

The New York Times Company Completes the Sale of Its About Group to IAC

Tuesday 25. September 2012 - The New York Times Company (NYSE: NYT) announced today the closing of the sale of its About Group, which includes the Web sites of About.com, ConsumerSearch.com and CalorieCount.com, to IAC (NASDAQ: IACI) for $300 million in cash, plus adjustments for working capital. The Company estimates the net after-tax proceeds from the sale will be approximately $290 million and plans to use the sale proceeds for general corporate purposes.

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.