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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. boundforboston

    boundforboston Well-Known Member

    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:

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    Drew Katz has withdrawn from the purchase: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Katz, whose father bought The Philadelphia Inquirer but died shortly after in a plane crash, said late Tuesday he has withdrawn from the deal, shuffling the ownership structure of the city's largest print and digital media institutions."

  12. Drip

    Drip Active Member

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