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The New York Times Signs Classified Advertising Distribution Agreement with Metro New York
The New York Times and Metro International S.A. (”Metro”) announced today an agreement for The New York Times to distribute classified advertising through the New York edition of Metro, offering advertisers extraordinary penetration of the New York market.
Denise Warren, chief advertising officer for The New York Times Media Group, said: “With this agreement, our classified advertisers will be able to reach an even larger, engaged audience, with the ease and convenience of one-stop shopping. The arrangement allows us to offer a compelling vehicle for additional distribution, deeper market penetration, higher response rates and better results at an attractive price.”
Daniel Magnus, managing director and publisher of Metro New York, said: “We are delighted to have signed this agreement with The New York Times, one of the most influential and well-respected media brands in the world and we look forward to growing our revenues from the classified segment as a result of it.”
The two publications have a combined unique weekday readership in the New York area of more than 2.2 million (Source: Scarborough DMA, Release 1, 2006). The Times and Metro will share the revenues generated through this agreement, which covers classified advertising in the recruitment, real estate, automotive and general merchandise categories. Classified advertising on New York Times branded pages is expected to appear in Metro New York beginning in late summer.
The New York Times reaches an educated and affluent group of readers in the New York metropolitan area and is the most prominent place in New York where people find jobs and employees as well as buy and sell homes, cars and other merchandise.
Since its launch in 2004, Metro New York delivers the youngest audience of all the dailies in New York with an average age of 36 years and an average household income of more than $87,000.
This is not the first time Metro and The New York Times Company have joined forces. The New York Times Company also owns 49% of Metro Boston LLC through its wholly-owned subsidiary, Globe Newspaper Company, Inc.
About The New York Times Company
The New York Times Company (NYSE: NYT), a leading media company with 2005 revenues of $3.4 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers, nine network-affiliated television stations, two New York City radio stations and 35 Web sites, including NYTimes.com, Boston.com and About.com. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.
About Metro International
Metro is the largest and fastest growing international newspaper in the world. 69 Metro editions are published in 93 major cities in 21 countries in 19 languages across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated metropolitan audience of over 18.5 million daily readers and more than 37 million weekly readers. Metro has an equal number of male and female readers and 70% are under the age of 45. Metro’s advertising sales have grown at a compound annual rate of 44% since the launch of the first edition in 1995.
Metro International S.A. ‘A’ and ‘B’ shares are listed on the Stockholmsborsen “O-List’ under the symbols MTROA and MTROB.