N.Y. Times Completes Buyout of IHT
From Associated Press
New York Times Co. has taken full control of the Paris-based International Herald Tribune, ending a 35-year partnership with the Washington Post Co., the Herald Tribune said.
The purchase of the Post’s 50% stake, which had been expected, took place Monday, said Robert McCartney, the International Herald Tribune’s managing editor.
In trading on the NYSE, New York Times’ shares rose 3 cents to close at $45.73, while Post shares rose $9.50 to $738.
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