New York Times Co. - Ordinary Shares - Class A

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Debt Financing / Related, Other Pre-Announcement

New York Times Co - Entered Into An Agreement With Massachusetts Mutual Life Insurance Company

Published: 10/13/2020 21:03 GMT
New York Times Co (NYT) - New York Times Co - Entered Into an Agreement With Massachusetts Mutual Life Insurance Company.
New York Times Co - Under Agreement With Massmutual About $235 Million in Pension Obligations Under Co's Pension Plan Will Be Transferred to Massmutual.
New York Times Co - Expects to Finalize Transaction by Early 2021.
New York Times Co - Purchase of Group Annuity Contract Will Be Funded Through Existing Pension Plan Assets.
New York Times - As a Result of Deal With Massmutual Expects to Recognize Non-cash Pension Settlement Charge of About $80-85 Million Before Tax in Q4 2020.