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Article: New York Times closes buyout of Paris-based International Herald Tribune
- Article from:
- AP Worldstream
- Article date:
- December 31, 2002
- Author:
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Dateline: PARIS
The New York Times Co., expanding its global presence, has closed
its deal to buy full control of the Paris-based International Herald
Tribune, the newspaper said Tuesday.
The purchase of the 50-percent stake owned by The Washington Post,
which had been expected, took place on 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 completion of the deal, first announced in October, ends a 35-
year alliance between The Post and Times at the Paris newspaper. The ...