NYT TRACKING STOCK APPROVED

By: Lucia Moses No Word On When IPO Would Take Place



At its annual meeting Tuesday, New York Times Co. shareholders approved
a plan to issue a new class of stock to track the performance of the
company's Internet assets.



The Times Co. didn't say when and for how much the New York Times
Digital tracking stock will be offered to the public, citing a quiet
period. But the company said the timing will depend on market
conditions, which are uncertain after Internet stocks lost significant
value in April.



By issuing a tracking stock, the Times Co. hopes to realize more value
for its Internet assets while having the ability to offer incentives for
Digital employees through stock options. The division would remain under
the control of the parent's board of directors.