Benchmark Updates on the New York Times Company

Benchmark has published a report on the New York Times Company NYT. In the report, Benchmark wrote, "We believe the New York Times Company is the best-positioned newspaper publishing companies to weather the difficult economic and industry environment over the next year or two, mainly due to the strength of The New York Times. With its premium brand, national distribution, large upscale audience and expanding position on the web through NYT.com, we expect the Times to be among the industry leaders once newspaper advertising recovers. The outlook for the Boston Globe is less clear, though it has shown improvement in revenues and management has cut costs and restructured operations in an effort to position it for eventual recovery." Benchmark rated the New York Times Company a Hold with a price target of $10.00. The New York Times Company closed Friday at $9.05.