Exhibit 4.3

                       THE NEW YORK TIMES COMPANY EMPLOYEE
                               STOCK PURCHASE PLAN

SECTION 1. Purpose.

            The Employee Stock Purchase Plan (the "Plan") of The New York Times
Company ("The Times") is designed to provide an opportunity for the employees of
The Times and its designated subsidiaries to purchase shares of the Class A
Common Stock (the "Stock") of The Times through voluntary systematic payroll
deductions. It is the purpose and policy of the Plan to provide employees with
an opportunity to acquire an additional interest in the economic progress of The
Times and a further incentive to promote its best interests.

SECTION 2. Offerings Under the Plan.

            From time to time within the limits of the Plan, shares of the Stock
will be made available for purchase only by employees of The Times through
offers of the Stock made on behalf of The Times by its Board of Directors (the
"Board"). The Board shall designate the subsidiaries of The Times whose
employees may participate in an offering under the Plan and shall within the
limits of the Plan fix the terms and conditions of each offering, provided that
any such subsidiary qualifies as a "subsidiary corporation" as defined in
Section 424(f) of the Internal Revenue Code of 1986, as amended (the "Code").
Except as provided in Section 3 of the Plan, all employees participating in an
offering shall have the same rights and privileges to purchase Stock under the
Plan.

SECTION 3. Employees Eligible and Participation by Such Employees.

            All regular, full-time employees of The Times and of such
subsidiaries as may be designated by the Board shall be eligible to participate
in the Plan, except that the Board in its discretion may exclude, on a uniform
basis, from any offering or offerings: (a) employees who at the time of an
offering have been employed less than two (2) years, (b) employees whose
customary employment is twenty (20) hours or less per week, (c) employees whose
customary employment is for not more than five (5) months in any calendar year,
and (d) highly compensated employees as defined in the Code. The number of
shares that may be purchased by an employee under any one offering shall bear a
uniform relationship to the basic compensation of such employee over a period of
time in which such compensation is paid (the "Purchase Period"). However, an
employee owning or who would own directly or indirectly more than five percent
(5%) of the total combined voting power or value of all classes of stock of The
Times, its parent or any subsidiary corporation immediately after any offering
under the Plan in which he participates or in which he is otherwise eligible to
participate, will not be eligible to participate in the Plan or any offering
made thereunder. No employee shall he granted the right to purchase shares of
the Stock which would permit his total rights to purchase Stock, under all
employee stock purchase plans of The Times, to accrue at a rate which exceeds
$25,000 of the fair market value of such Stock, determined at the time such
rights are granted, for each calendar year during which rights to purchase such
Stock are outstanding at any time.

SECTION 4. Shares Subject to the Plan.

            The shares which may be offered under the Plan may be treasury
Stock, unissued Stock, or The Times may go into the market and purchase Stock
for sale. The number of shares of Stock to be sold under the Plan shall not
exceed 10,000,000 shares, except as such number may be adjusted pursuant to
Section 9. All shares offered under the Plan and for any reason not purchased as
well as all shares not previously offered will be available for subsequent
offerings.

SECTION 5. Price.

            The price at which shares may from time to time be offered shall be
fixed by the Board, but shall not be less than the lower of (a) 85% of the fair
market value of the Stock on the date of offering (the "Offering Price"), or (b)
85% of the fair market value of the Stock on the last day of the Purchase
Period, except as provided in Section 6.

SECTION 6. Payroll Deductions, Interest and Right of Cancellation.

            Shares purchased under the Plan will be paid for by payroll
deductions during the Purchase Period, which shall not exceed 27 months, without
the right of prepayment. The Board will fix the rate of interest, if any, that
will accrue on the amounts deducted. Each participant will have the right to
cancel his election to purchase shares under the Plan within a designated time
prior to the last day of the Purchase Period and in such case payroll
deductions, plus any interest thereon, will be


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returned to him. The Board will also make provision with respect to the rights
of participants in the event of retirement, death, termination of employment,
temporary layoff, or authorized leave of absence, including without limitation a
provision that a participant whose employment has terminated through death or
retirement or otherwise may purchase Stock within three (3) months thereafter at
the Offering Price.

SECTION 7. Issue of Shares.

            No shares purchased under the Plan will be issued except at the end
of the Purchase Period and only upon such issuance will participants have, with
respect to such shares, any of the rights of a stockholder, except as otherwise
provided in Section 6.

SECTION 8. Assignability.

            The rights of a participant will not be transferable by him other
than by will or the laws of descent and distribution, and will be exercisable
during his lifetime only by him.

SECTION 9. Effects of Changes in Shares.

            If at any time The Times shall take any action, whether by stock
dividend, stock split, combination of shares, or otherwise, which results in a
proportionate increase or decrease in the number of shares of Stock theretofore
issued and outstanding, the number of shares covered under the Plan shall be
increased or decreased proportionately, and the price in Section 5 adjusted
proportionately, and such other adjustment shall be made as may be equitable by
the Board or the Committee.

SECTION 10. Administration of the Plan.

            The Plan shall be administered by the Board or a Committee appointed
by the Board of three or more of its members (the "Committee"). The Committee
shall serve at the pleasure of the Board and shall have such powers as the Board
may from time to time confer upon it. Any decision or action taken by the Board
or the Committee arising out of or in connection with the construction,
administration, interpretation and effect of the Plan shall be conclusive and
binding upon all employees participating in the Plan and any person claiming or
under or through any such employee.

SECTION 11. Amendment or Discontinuance.

            The Board may amend or discontinue the Plan at any time. If required
by applicable law or stock exchange rule, any such amendment shall be subject to
stockholder approval. Unless otherwise required by such law or rule, the
affirmative vote of a majority of the votes cast on such matter by the holders
of the Class A Common Stock and Class B Common Stock, voting together as a
single class, shall be required for such approval.

SECTION 12. Approval by Stockholders.

            This Plan must be approved by the affirmative vote of a majority of
the votes cast on such matter by the holders of the Class A Common Stock and
Class B Common Stock, voting together as a single class.


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