The Canadian Press - ONLINE EDITION

Judge: Philly newspapers to be sold to insiders at ascending-bid auction

  • Print

PHILADELPHIA - A Delaware judge has ruled that Philadelphia's two largest newspapers will be sold at an ascending-bid auction open only to insiders.

The decision Friday is a victory for majority owner George Norcross in his fight for control of The Philadelphia Inquirer and Philadelphia Daily News.

Norcross and fellow investor Lewis Katz have been locked in a fight over how to run the company, prompting the latest sale.

Both men have pledged to open with a starting bid of $77 million, which would make their 2012 investing partners whole.

The local newspaper guild had hoped to bid with backing from an investor, but said this week they would not match that opening bid.

Katz had fought for the company to be sold at a sealed-bid auction open to anyone.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Key of Bart - The Floodway Connection

View more like this

Photo Store Gallery

  • Two baby tigers were unveiled at the Assiniboine Park Zoo this morning, October 3rd, 2011. (TREVOR HAGAN/WINNIPEG FREE PRESS)
  • A gaggle of Canada geese goslings at Woodsworth Park in Winnipeg Monday- See Project Honk Day 05- May 07, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Will you miss Grandma Elm?

View Results

View Related Story

Ads by Google