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NEW YORK TIMES COMPANY ANNOUNCES SPECIAL CHARGE TO 1993 YEAR-END EARNINGS

 NEW YORK, Jan. 11 /PRNewswire/ -- The New York Times Company (AMEX: NYT.A) announced today a 1993 fourth-quarter special pre-tax charge of $30 million (approximately $.17 per share) for severance and related costs resulting from anticipated white-collar staff reductions at The New York Times newspaper over the next several years to ensure that it remains competitive.
 The collective bargaining agreement with the Newspaper Guild, which represents most of the white-collar staff composed of clerical, commercial, news and editorial employees at The Times, expired on March 31, 1993. Negotiations with the Newspaper Guild are ongoing.
 This $30 million charge was not reflected in the Company's December 6, 1993 announcement of fourth-quarter charges.
 -0- 1/11/94
 /CONTACT: Nancy Nielsen, 212-556-7078, William Adler, 212-556-7077, both of New York Times/
 (NYT.A)


CO: New York Times Company ST: New York IN: PUB SU:

LG -- NY074 -- 1116 01/11/94 16:20 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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