Breaking News Bar
updated: 5/27/2014 12:38 PM

Philadelphia Inquirer, Daily News up for auction

hello
Success - Article sent! close
 
Associated Press

PHILADELPHIA -- A closed-door auction is scheduled Tuesday to determine the future of Philadelphia's two largest newspapers.

The Philadelphia Inquirer and Philadelphia Daily News are being sold for the fifth time since 2006.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Powerful businessmen George Norcross and Lewis Katz led the latest purchase, for $55 million in 2012. But they began feuding over management issues and are now locked in a fight to buy each other out.

Both have pledged opening bids of $77 million, enough to repay their partners.

Norcross owns just over 50 percent of the company. Katz is bidding with investor H.F. "Gerry" Lenfest, a wealthy city philanthropist.

Norcross says he would steer coverage toward "hyper-local" news and sports.

Katz supports the investigative reporting favored by current Inquirer editor Bill Marimow.

The company also operates the Philly.com website.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here