SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 24, 1995
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THE NEW YORK TIMES COMPANY
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(Exact name of registrant as specified in its charter)
New York 1-5837 13-1102020
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
229 West 43d Street, New York, New York 10036
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(Address of principal executive offices (Zip Code)
Registrant's telephone number, including area code: (212) 556-1234
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ITEM 5. Other Events
On February 24, 1995, the Registrant announced that it has agreed to
purchase WTKR-TV, a CBS affiliate in Norfolk, Virginia from Narragansett
Television, Inc. A copy of the Registrant's press release is filed herewith as
Exhibit 99.
ITEM 7. Financial Statements and Exhibits
Exhibit 99. Press Release dated February 24, 1995.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE NEW YORK TIMES COMPANY
Date: March 1, 1995 By: Laura J. Corwin
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Laura J. Corwin
Secretary and Corporate Counsel
Exhibit 99
News About The New York Times Company
229 West 43d Street, New York, NY 10036
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For Immediate Release:
Contact: Nancy Nielsen 212-556-7078
THE NEW YORK TIMES COMPANY
TO ACQUIRE WTKR-TV, NORFOLK, VA.
NEW YORK, Feb. 24 -- The New York Times Company and
Narragansett Television, Inc., announced an agreement for
the purchase by the Times Company of WTKR-TV, the CBS-
affiliate which serves the Norfolk-Portsmouth-Newport News
television market in Virginia. The announcement was made
today by Arthur Ochs Sulzberger, chairman and chief
executive officer of the Times Company and Jonathan M.
Nelson, chairman of Narragansett Television.
"We are delighted to acquire WTKR-TV and become a part
of the greater Norfolk community. This is an important step
toward strengthening our position in electronic media," said
Mr. Sulzberger. WTKR-TV will join the New York Times
Company Broadcast Group, which is based in Memphis,
Tennessee and consists of five network-affiliated stations,
a video production company and two radio stations.
Mr. Nelson said, "WTKR is one of the outstanding
television stations in the country. The station s community
involvement and public service are second to none. We
believe that with the Times Company as its new owners, the
station will continue its tradition of offering excellent
programming to its viewers and will remain an outstanding
place to work."
Lance R. Primis, president and chief operating officer
of the Times Company, added: "We see WTKR-TV as a perfect
fit for the expansion of our television group. It is a
strong station in a very attractive market. While Norfolk
will be our biggest television market, we have operated very
successfully in Memphis and Scranton, Penn., markets of
similar size. We are confident that our operating strategy
of emphasizing local news and local advertising will be
equally successful in Norfolk."
<PAGE>
WTKR-TV is a VHF station with a Designated Market Area
(DMA) that ranks 39th nationally in total TV households, as
measured by A.C. Nielsen. The market contains 625,000
television households in 24 counties around the Hampton
Roads area of Virginia and North Carolina at the mouth of
the Chesapeake Bay.
The terms of the agreement were not disclosed. The
closing is subject to regulatory approval.
The New York Times Company is a diversified media
company with revenues of $2.4 billion in the following lines
of business: newspapers, magazines, broadcasting,
information services and forest products. In addition to
operating the Broadcast Group, the Company publishes The New
York Times, The Boston Globe and 28 regional newspapers,
owns newspaper wholesalers in the New York City and Boston
metropolitan areas and a one-half interest in the
International Herald Tribune; publishes 10 sports/leisure
magazines; operates a news, photo and graphics services and
news and feature syndication, TimesFax, The New York Times
Index, and licensing of electronic data bases and microfilm,
CD-ROM products and the trademarks and copyrights of The
Times; and has minority interests in one newsprint mill and
one supercalendered paper mill.
The Company s Class A Common Stock is listed on the
American Stock Exchange under the symbol NYT.A.
-- February 24, 1995
