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Article: NY Times Takes Control of Herald Tribune
- Article from:
- AP Online
- Article date:
- December 31, 2002
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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Dateline: PARIS
The New York Times Co. has taken full control of the Paris-based International
Herald Tribune, ending a 35-year partnership with The Washington Post,
the Herald Tribune said Tuesday.
The purchase of the Post's 50-percent stake, which had been expected,
took place Monday, said Robert McCartney, the International Herald
Tribune's managing editor.
"The money has changed hands," McCartney told The Associated Press
by telephone. He said the transfer of management control is to take
effect Wednesday.
The deal was first announced in October. The Times said the purchase
was valued at less than $75 million.
The end of the alliance at the Paris daily ...