New York Times Co. CEO Janet Robinson got a compensation package worth roughly $4.9 million in 2009, according to an Associated Press analysis of a regulatory filing.

Robinson's base salary was cut 4 percent to $962,500. But she got a performance-based bonus of about $2.3 million, four times the size of her 2008 bonus. Robinson also received restricted stock and options that were valued at $1.6 million when they were granted. Other perks, including 401(k) contributions, came to about $31,700.

In 2008, Robinson's total compensation package was valued at $4.4 million. That included restricted stock and options worth $2.8 million at the time. However, the Times Co. later canceled options worth about $560,000 after realizing that it had exceeded a limit set by its own bylaws. To make up for it, the board gave Robinson a set of stock incentives last year that were worth $350,750 at the time they were granted.

The Associated Press' formula is designed to isolate the value a company's board placed on an executive's total compensation package. It includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in summaries filed with the Securities and Exchange Commission.

Robinson has been steering the Times Co. through one of the worst crises in its history. Competition from the Web and the worst recession since World War II have pounded the newspaper industry. In 2009 the Times Co., which publishes The New York Times, The Boston Globe and 16 other daily newspapers, lost one-fourth of its advertising revenue, its main source of income.

Still, the company managed to earn a profit last year of $19.9 million after losing $57.8 million in 2008. To make up for lost revenue, it cut nearly 18 percent of its staff, along with other cost reductions.