NORTHCLIFFE AND “TIMES"

New Zealand Times, Volume XLIX, Issue 11253, 4 July 1922, Page 6

NORTHCLIFFE AND “TIMES"

PURCHASE OF WALTER INTERESTS. Last week it was reported that Lore Northcliffe had bought the Walter interest in “The Time* s ," for .£225,000, thus severing the Walter family'* historic connection with the paper. "The ’3'imes” was founded by Air John Walter, who was bora in 1738-9. On January Ist, 1755, he started a small newspaper called the “Daily Universal Register,” which, on reaching its 910th number, on January Ist, 1788, was re-named “The Times.” John Walter the second (17761847), who really established the great newspaper of which his father had sown the seed in 1808, became not only sole manager, but also editor of “The Times.'* His eldest son, John, who was born at Printing House square in 1818, become sole manager on his father's death. He was succeeded by his son, Mr. Arthur Fraser Walter (1546-1910), who remained chief proprietor of “The Times” till 1908, when it was converted into & company. He then become chairman of the board of directors, and on his death was succeeded in this position by his son John. When “The Times” proprietary was converted into a company. Lord Northcliffe acquired a considerable interest in the paper, whose financial position was at that time not very sound. Since then, however, “Tho Times” ha» beea completely re-established.