6 Business Leaders Mull Bid For Philly Newspapers



Salon Staff
February 4, 2012 3:00AM (UTC)

PHILADELPHIA (AP) — Philadelphia Flyers owner Ed Snider and New Jersey powerbroker George Norcross are among six business leaders mounting a potential bid for two Philadelphia newspapers.

Former Pennsylvania Gov. Ed Rendell said Friday that he is among the non-equity partners in the group that's submitted a letter of interest.

Advertisement:

Philadelphia Media Network operates The Philadelphia Inquirer and Philadelphia Daily News. Creditors took over the company after a 2010 bankruptcy sale.

Rendell couldn't confirm a report that two hedge funds now want to sell. But he says a company has been reaching out to potential investors.

Rendell says the group would fight to keep both newspapers open.

Advertisement:

He says the group is committed to keeping strong newspapers in the community and less concerned about short-term profits.


Salon Staff

MORE FROM Salon Staff


Related Topics ------------------------------------------


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •