NEW YORK — The New York Times Co. Tuesday agreed to buy the 50 percent stake in the Paris-based International Herald Tribune it does not already own.
The deal ends an 11-year joint ownership of the paper between The Times and The Washington Post Co.
A spokeswoman for the Times said that the company will be paying The Post less than $75 million for the acquisition.
The spokeswoman also said that The Times does not expect changes in the staff of the 340-person IHT, contrary to a report in Tuesday’s Wall Street Journal that indicated The Times might seek to convert it into an international edition of The Times.
The IHT has a circulation of 264,000 and has expanded its readership by 25 percent in the last two years, although advertising has dropped as a result of the downturn in global financial industries and reduced travel since Sept. 11, 2001.
The purchase comes at a time when The Times Co. is rapidly expanding its scope. The company currently publishes 16 newspapers, including The Boston Globe; owns eight network-affiliated television stations, andrecently invested $100 million with Discovery Communications to launch a cable television offshoot of the Discovery Channel called Discovery Civilization Channel.
Also in Times news, the company announced Tuesday that the Arts & Leisure desk would switch editors. Steven Erlanger, the paper’s Berlin bureau chief, will take over as cultural news editor. He replaces John Darnton, who will become associate editor for special projects. The move was yet another major change by the paper’s new executive editor Howell Raines, who has been making aggressive staff moves at The Times since he took over in 2001.
Yesterday, the Parisian fashion house @azzaro_official cut the ribbon on a temeporary retrospective at the wing of the Musée des Arts Décoratifs in Paris. The exhibition, which shows the lasting influence of the brand’s founder Loris Azzaro, is titled “Azzaro, Fifty Sparkling Years” and presents 50 looks. In it’s ’70s heyday, fans of the brand included Jane Birkin, pictured here, Raquel Welch, Brigitte Bardot and more. See more photos on WWD.com #wwdfashion
@trinaturk and @macys Inc International Concepts line are linking up on a collection for summer — filled with accessories, swimwear and shoes. The collection will also include a Mr Turk men’s line, both of which are the designer’s first entry into a more accessibly priced area. “It’s very world-traveler, gypset-inspired,” said Turk. The Trina Turk x INC line will launch on May 15th. #wwdfashion
Assouline is paying homage to the late Azzedine Alaïa with a reprint of "Alaïa Livre de Collection.” The book is comprised of photographs of the designer's summer 1992 runway show with models Christy Turlington Burns, Naomi Campbell and Tyra Banks, pictured here at right. #wwdfashion #alaia #tyrabanks
Fall 2018 accessories take on a painterly hue, with Nebulas Blue among Pantone’s top 10 colors of the season. (📸: @jonghyupstudio ; editor: @twallz21 ; stylist and set designer: @haideefindlaylevin ) #wwdaccessories
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Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge