71691--2/23/2006--NEW_YORK_TIMES

related topics

{product, market, service}

{capital, credit, financial}

{condition, economic, financial}

{cost, operation, labor}

{cost, contract, operation}

{stock, price, operating}

{gas, price, oil}

All of our businesses face substantial competition for advertisers, and this competition is increasingly intense with, and within, the digital area. Our network-affiliated broadcast properties face significant competition that may result in increased audience fragmentation that adversely affects advertising revenues. Regulatory developments may intensify the competitive market. Decreases, or slow growth, in circulation adversely affects our circulation revenues and also our advertising revenues. Negative economic conditions in our principal markets would adversely affect our advertising revenues. Our largest newspaper properties are dependent on national advertising. The success of our business depends substantially on our reputation as a provider of quality journalism and content in print, digital and broadcast. Our potential inability to execute cost-control measures successfully could result in total costs and expenses that are greater than expected. The price of newsprint has historically been volatile, and a significant increase would have an adverse effect on our operating results. A significant portion of our employees are unionized, and our results could be adversely affected if labor negotiations were to restrict our ability to maximize the efficiency of our operations. We continue to develop new products and services for evolving markets. There can be no assurance of the success of these efforts due to a number of factors, some of which are beyond our control. We may buy or sell different properties as a result of our evaluation of our portfolio of products, which may affect our costs, revenues, profitability and financial position. Our Class B stock is principally held by descendants of Adolph S. Ochs, through a family trust, and this control could create conflicts of interest or inhibit potential changes of control. Regulatory developments, particularly with respect to our broadcast properties, may result in increased costs. If our capital expenditures, related to our new headquarters or otherwise, exceed our projections, we may require additional funding, which, if not available on terms acceptable to us, could adversely affect our growth, financial condition and results of operations.

Full 10-K form ▸

71691--2/23/2006--NEW_YORK_TIMES_CO