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Lewis Katz wins bidding for Inquirer/Daily News/Philly.com

Discussion in 'Journalism topics only' started by boundforboston, May 27, 2014.

  1. Pays $88 million for all three properties, outbidding George E. Norcross III: http://www.inquirer.com/about/20140528_Inquirer_owners_to_square_off_at_auction.html?jjhdfg&authenticate=y
     
  2. wicked

    wicked Well-Known Member

    Notice that the Daily News wasn't mentioned by the new owners, but the Inquirer was.
     
  3. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    Katz died in a plane crash last night:

    http://www.philly.com/philly/news/20140602_Lewis_Katz__co-owner_of_The_Inquirer__dies_in_plane_crash.html
     
  4. Songbird

    Songbird Well-Known Member

    What a bizarre turn of events.
     
  5. steveu

    steveu Well-Known Member

    Unbelievable. Now you wonder what happens next at the Inquirer. Not to mention his poor family.
     
  6. da man

    da man Well-Known Member

    The story said his son will take his place on the board, but I would imagine this complicates the hell out of things financially.
     
  7. Drip

    Drip Active Member

    Right now, there is a lot of speculation about what will happen. There will be a memorial on Wednesday at Temple University.
     
  8. Liut

    Liut Well-Known Member

    Drip, was he related to Harold by chance?
     
  9. Drip

    Drip Active Member

    As far as I know, he wasn't.
     
  10. YankeeFan

    YankeeFan Well-Known Member

    Lenfest sounds nice:

     
  11. Dyno

    Dyno Well-Known Member

    Drew Katz has withdrawn from the purchase:

    "Drew Katz, whose father bought The Philadelphia Inquirer but died shortly after in a plane crash, said late Tuesday he has withdrawn from the deal, shuffling the ownership structure of the city's largest print and digital media institutions."

    http://www.usatoday.com/story/money/business/2014/06/11/philadelphia-papers-ownership-changes-again/10318647/
     
  12. Drip

    Drip Active Member

    This whole episode is a cluster fuck that won't end well for many.
     
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