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.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia