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.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over the top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty