OTHER BUSINESSES FOREST PRODUCTS INVESTMENTS  Our other businesses primarily include: •  The Times news services division, which transmits articles, graphics and photographs from The Times and  other publications to over 1,900 newspapers, magazines and websites in over 100 countries and territories  worldwide. It also comprises a number of other businesses that primarily include our online retail store,  product licensing, book development and rights and permissions;  •  The Company’s conferences business, which is a platform for our live journalism, convenes thought leaders  from business, academia and government to discuss topics ranging from education to sustainability to the  luxury business; and  •  Digital archive distribution, which licenses electronic archive databases to resellers of that information in the  business, professional and library markets. We have non-controlling ownership interests 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”). These investments are accounted for under the  equity method and reported in “Investments in joint ventures” in our Consolidated Balance Sheets as of December 28,  2014. For additional information on our investments, see “Item 7 — Management’s Discussion and Analysis of  Financial Condition and Results of Operations” and Note 5 of the Notes to the Consolidated Financial Statements. We have a 49% equity interest in Donohue Malbaie Inc. (“Malbaie”), a Canadian newsprint company. The other  51% is owned by Resolute FP Canada Inc., a subsidiary of Resolute Forest Products Inc. (“Resolute”), a Delaware  corporation. Resolute is a large global 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 Clermont paper mill. In 2014,  Malbaie produced approximately 214,000 metric tons of newsprint, of which approximately 11% was sold to us, with  the balance sold to Resolute for resale. We have a 40% equity interest in Madison Paper Industries (“Madison”), a partnership operating a  supercalendered paper mill in Madison, Maine. Our Company and UPM-Kymmene Corporation, a Finnish paper  manufacturing company, are partners through subsidiary companies in Madison. The Company’s percentage  ownership is through an 80%-owned consolidated subsidiary. UPM-Kymmene owns 60% of Madison, including a  10% interest through a 20% noncontrolling interest in the consolidated subsidiary of the Company. Madison  purchases the majority of its wood from local suppliers, mostly under long-term contracts. In 2014, Madison  produced approximately 190,000 metric tons of supercalendered paper, of which approximately 4% was sold to us. 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”). Malbaie and Madison follow policies and operate monitoring programs designed to ensure  compliance with applicable Environmental Laws and Governmental Authorizations and to minimize exposure to  environmental liabilities. Various regulatory authorities periodically review the status of the operations of Malbaie  and Madison. Based on the foregoing, we believe that Malbaie and Madison are in substantial compliance with such  Environmental Laws and Governmental Authorizations. P. 4 – THE NEW YORK TIMES COMPANY