Operating costs excluding depreciation, amortization and severance also declined 3.7 percent in the second quarter of 2010 versus the second quarter of 2009.
The Company continues to manage its liquidity, reducing its debt and capital lease obligations, net of cash and cash equivalents by approximately one third to $670 million from its balance at the beginning of 2009, even after making pension contributions totaling $87.5 million in the second quarter of 2010. The majority of the Company’s debt matures in 2015 or later.
Janet L. Robinson, president and CEO, attributes the growth to “solid growth in digital advertising revenues, which rose 21 percent, offset a 6 percent decrease in print advertising"
Businesses within the New York Times Company 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.
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