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May 11, 2003
NY Times and Weekly World News to Merge
AP News Wire
NEW YORK - The New York Times and the Weekly World News have decided to join forces, company executives announced today.
"We believe the WWN will help bring a new level of accuracy to our reporting which we haven't had before," said Arthur Sulzberger Jr., chairman of The New York Times Company and publisher of the newspaper.
"The decision to join forces is consistent with my policy, 'When Wrong, Get Right'," added Executive Editor Howell Raines. "And this merger is a big step in that direction."
According to sources, the proposed merger could be complete within weeks if the Federal Trade Commission rules that joining the two media giants is not a violation of federal anti-trust laws.
"We will have to review the proposal very carefully," said FTC Attorney Gerald MacPhiddy. "Everyone knows that The Times and the Weekly World News are fierce competitors, and the biggest players in their market."
Posted by crandal at May 11, 2003 07:10 PM