Businessweek

ews and information Web site, in 2012 had a monthly average of approximately 6 million unique visitors in the United States. In 2012, BostonGlobe.com had a monthly average of approximately 1 million unique visitors in the United States. Paid digital subscribers to BostonGlobe.com, e-readers and replica editions totaled approximately 28,000, as of December 30, 2012. The T&G and several Company-owned non-daily newspapers — some published under the name of Coulter Press — circulate throughout Worcester County, Massachusetts, and northeastern Connecticut. As of December 30, 2012, the T&G’s average circulation, which includes paid and verified circulation of the newspaper in print and online, was 69,400 for weekday and 78,400 for Sunday. Forest Products Investments and Other Joint Ventures The company has ownership interests primarily in one newsprint company and one mill producing supercalendered paper, a polished paper used in some magazines, catalogs and preprinted inserts, which is a higher-value grade than newsprint (the Forest Products Investments), as well as in Metro Boston. Forest Products Investments The company has a 49% equity interest in a Canadian newsprint company, Donohue Malbaie Inc. (Malbaie). The other 51% is owned by Resolute FP Canada Inc., a subsidiary of Resolute Forest Products Inc. (Resolute), a Delaware corporation. Resolute is a manufacturer of paper, market pulp and wood products. Malbaie manufactures newsprint on the paper machine it owns within Resolute’s paper mill in Clermont, Quebec. Malbaie is wholly dependent upon Resolute for its pulp, which is purchased by Malbaie from Resolute’s paper mill in Clermont, Quebec. In 2012, Malbaie produced approximately 218,000 metric tons of newsprint, of which approximately 14% was sold to the company, with the balance sold to Resolute for resale. The company has a 40% equity interest in Madison Paper Industries (Madison), a partnership operating a supercalendered paper mill in Madison, Maine. Madison purchases the majority of its wood from local suppliers, mostly under long-term contracts. In 2012, Madison produced approximately 188,000 metric tons, of which approximately 3% was sold to the company. Malbaie and Madison are subject to comprehensive environmental protection laws, regulations and orders of provincial, federal, state and local authorities of Canada and the United States (the Environmental Laws). The Environmental Laws impose effluent and emission limitations and require Malbaie and Madison to obtain, and operate in compliance with the conditions of, permits and other governmental authorizations (Governmental Authorizations). Other Joint Ventures The company owns a 49% interest in Metro Boston, which publishes a free daily newspaper in the greater Boston area. Competition The Times competes for advertising and circulation primarily with national newspapers such as The Wall Street Journal and USA Today. The IHT’s key competitors include all international sources of English-language news, including The Wall Street Journal’s European and Asian Editions, the Financial Times, Time, Bloomberg Business Week and The Economist; and news channels CNN, CNNi, Sky News International, CNBC and BBC. The Globe competes primarily for advertising and circulation with other newspapers and television stations in Boston, its neighboring suburbs and the greater New England region, including The Boston Herald (daily and Sunday). NYTimes.com, Boston.com and BostonGlobe.com most directly compete for advertising and traffic with other advertising-supported or consumer-paid news and information Web sites and mobile applications, such as WSJ.com, Google News, Yahoo! News, MSNBC and CNN.com, digital advertising networks and exchanges and classified advertising portals. Internationally, global.nytimes.com competes against international online sources of English language news, such as bbc.co.uk, guardian.co.uk, ft.com and reuters.com. Significant Events In September 2012, the company sold the About Group, consisting of About.com, ConsumerSearch.com, CalorieCount.com and related businesses, to IAC/InterActiveCorp. In January 2012