The New York Times Company (NYSE:NYT) announces a share repurchase program. Under the program, the company will repurchase up to $101.1 million worth of its Class A shares. Repurchases will be made from time to time in open market transactions as conditions permit.

Repurchases are funded from the proceeds of exercise warrants by the Carlos Slim Helú and its affiliated entities. The company believes that the share repurchase program is an appropriate use of cash proceeds received upon the exercise of the warrants and the issuance of the Class A shares. There is no expiration date with respect to the authorization.