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Posts Tagged ‘Philly.com’

Philadelphia Inquirer, Philadelphia Daily News, Philly.com Sold for $55 Million

The two biggest papers in Philadelphia, The Philadelphia Inquirer and the Philadelphia Daily News, have been sold to a group of local business moguls. The website, Philly.com, was also part of the deal, which includes another $10 million in working capital.

Philadelphia Media Network, which filed for bankruptcy in 2009, will turn over operations to six investors who have formed the new parent company, Interstate General Media. The new leadership team includes Lewis Katz, George Norcross IIIH.F. Lenfest, Krishna Singh, William Hankowsky and Joseph Buckelew.

As part of the deal, the six investors signed an agreement that they would not interfere with the operation of the newsrooms. PMN’s CEO, Gregory Osberg, will also remain in place.

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Philly Publisher Still Bankrupt | iPhone app Could Put Your Art in Times Square | Fox and White House Play Nice | NYU Students Still Pissed Off

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Philly.com: Bankrupt Philadelphia Newspapers L.L.C is in trouble with their senior lenders, who rejected the publisher’s offer of $87 million to settle their $300 million debt.

Agency Spy: Doodle on your iPhone, and your masterpiece could end up in a giant Times Square digital display thanks to a new Prius app campaign.

FishbowlDC: The White House and Fox News have come on an uneasy truce…for now. Maybe that means Barack Obama and Robert Gibbs can stop pretending Roger Ailes‘ channel doesn’t exist?

Gothamist: Those NYU activists are still pissed and instead of writing their term papers, they are creating a 28-page manifesto outlining their grievances with the college. Which is sort of impressive on NYU’s part…getting kids to write 28 pages of anything is no small feat. Mission accomplished?