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Auction settles ownership battles at the Philadelphia Inquirer
Flying Kite Staff
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Tuesday, June 03, 2014
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An auction has finally settled the matter of the
Philadelphia Inquirer
's ownership.
The legal battle over the ownership of The Philadelphia Inquirer ended on Tuesday when its minority owners, Lewis Katz and Gerry Lenfest, prevailed in an auction for the newspaper.
Mr. Katz and Mr. Lenfest agreed to pay $88 million for The Inquirer and its affiliated properties, which include The Philadelphia Daily News, the website Philly.com and a printing plant.
The purchase signals the end of a battle between the wealthy, politically connected men who teamed up to buy the publications in 2012 and then fell out over accusations of inappropriate influence exerted on the newsroom, which threw the papers into turmoil.
Original source:
The New York Times
Read the complete story
here
.
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