20th Century and Merger
Whitelaw Reid died in 1912 and was succeeded as publisher by his son, Ogden Mills Reid. The younger Reid devoted more time and resources to his newspaper and gradually started increasing circulation. Bennett died in 1918, and his paper was sold to Frank Munsey, an inveterate collector of publications, who developed a reputation for selling or merging newspapers to the animus of the newspapermen around the country.
Neither the Herald nor the Tribune was doing well in the 1920s, but the Herald, with its larger circulation, was in better shape than the Tribune. A merger was expected, with the widespread belief that the larger paper would absorb the smaller one. It came as a surprise, then, when Reid purchased the Herald from Munsey in 1924: at the Herald, a sign was hung up that said "Jonah just swallowed the whale."
Read more about this topic: New York Herald Tribune
Famous quotes containing the word century:
“I conceive that the leading characteristic of the nineteenth century has been the rapid growth of the scientific spirit, the consequent application of scientific methods of investigation to all the problems with which the human mind is occupied, and the correlative rejection of traditional beliefs which have proved their incompetence to bear such investigation.”
—Thomas Henry Huxley (1825–95)