The news organization has been acquired by Luxe Investment Group, which also purchased the online newspaper, The Costa Rica Star in September 2014. The investment group, led by CEO Andrew Stark, acquired 100 percent of ICR’s assets in the transaction.
Timothy Williams, ICR’s Editor-in-Chief since 2012, will remain with ICR in the same role, as Stark takes the helm as ICR’s chief executive.
“I couldn’t be more excited. As part of a larger organization, ICR will have resources unavailable to us until now, both in terms of talent and in terms of financial resources. This deal will allow us to focus on what we do best – delivering our readers quality news reporting,” Williams said.
The company said that ICR News would continue to operate as a separate and independent news outlet from the group’s other publishing interests, but would benefit from the group’s shared resources.
“ICR has become one of the country’s most respected and trusted English-language news publishers under Mr. Williams’ leadership. We don’t want to change that – we want to make it even better, and provide ICR the resources it needs to thrive,” Stark said.
“We are joining a really amazing team of talented people, who are committed to our readers and this country, and I’m looking forward to the future,” Williams said.
ICR News, formerly known as Inside Costa Rica has published online since 2002.