January 9, 2014 |
The battling owners of The Inquirer's parent company are vowing to outbid each other if the company is dissolved and put up for sale in a process that could take months. H.F. "Gerry" Lenfest said Tuesday that he and Lewis Katz have tried to recruit new investors in their bid for Interstate General Media. "We'd seek other appropriate investors who want to join us," Lenfest said in an interview, declining to elaborate. George E. Norcross III, their main rival, "has made it clear" that he, too, will bid to own the company, said his spokesman, Dan Fee. He noted that Norcross has offered to buy Katz's and Lenfest's shares at a 12 percent premium from their initial investment.
February 2, 2013 |
The parent company of The Inquirer, the Philadelphia Daily News, and Philly.com reached a tentative agreement on a new contract with the last and largest of its 11 unions Thursday, a key step in the company's efforts to return to profitability. The Newspaper Guild of Greater Philadelphia said it had tentatively agreed to a two-year contract for its 550 members that includes a one-time 2.5 percent across-the-board wage cut but also commits the company to maintaining its current printing schedule for its two daily newspapers in 2013 and 2014.
April 27, 2012
SO, ONE DAY you're just a bunch of regular SEPTA workers toiling away at 1234 Market St., and the next you're the Fortunate 48 who raked in the $172 million Powerball jackpot. Surely, your heads are spinning, buzzing over the possibilities of what all that loot can do. Never fear! We here at the Daily News have a handful of suggestions on where to put your money: 1 Chrome rims for all buses to, you know, class up the joint. 2 A 20-story Ralph Kramden statue for the old Disney Hole at 8th and Market.
September 21, 2011
Carl R. Greene, the former head of the Philadelphia Housing Authority, has sued the parent company of The Inquirer, the Philadelphia Daily News, and Philly.com, alleging that the newspapers engaged in a smear campaign against him. Greene's suit says the newspapers targeted him "to generate much needed readership and revenue," and that the result was that Greene's "reputation as a housing authority administrator has forever been destroyed. " The lawsuit, filed last week in Common Pleas Court, is seeking in excess of $50,000 in compensatory and punitive damages.
September 24, 2010 |
The Inquirer and the Philadelphia Daily News were sold again to their senior lenders Thursday, this time under terms that require the sale to close with or without a contract agreement with the papers' drivers. The lenders' bid of $105 million cash for Philadelphia Newspapers L.L.C., which owns the papers and the website Philly.com, was identical to its winning bid in April at the company's first auction. The total deal is worth $139 million when the North Broad Street headquarters plus some other incidentals are included.
January 31, 2009 |
The pundits and cynics who believe that newspapers are dead are dead wrong. So says a small group of newspaper executives who this month organized an ad hoc group to alter perceptions and get the facts out - for example, more Americans will pick up a newspaper Monday morning (100 million) than watch the Super Bowl tomorrow night. Dubbed the Newspaper Project, the grassroots effort includes the CEO and publisher of Philadelphia Media Holdings, Brian P. Tierney. Beginning Monday, print and online ads will appear in Advertising Age, The Inquirer, the New York Times, the Washington Post, and more than 100 other newspapers.
December 5, 2008 |
Robert M. Jelenic, 58, of New Hope, former chairman of the Journal Register Co., died of cancer Wednesday. Before resigning in 2007, Mr. Jelenic was the architect and driving force behind Journal Register, which owns 22 daily newspapers and 346 nondaily publications, and operates 227 Web sites. Its dailies in this region are the Trentonian, the Delaware County Daily Times, the West Chester Daily Local News, the Pottstown Mercury, the Norristown Times Herald, the Lansdale Reporter, and the Phoenixville Phoenix.
November 2, 2004 |
Newspaper circulation eroded broadly again in the last six months, but the decline was not the sharp drop-off that some analysts had feared in the wake of recent newspaper-circulation scandals. Three media companies - Tribune Co., Hollinger International Inc. and Belo Corp. - have reported artificially inflating newspaper-circulation figures by tens of thousands, a practice that allowed them to charge advertisers higher rates. The companies have taken a combined $143 million in charges to reimburse advertisers who believed they were reaching more readers than they were.
March 12, 2001 |
It's clear to me that newspapers nationwide are in for a bumpy economic ride, with the "fasten-seat-belt" sign likely to remain lit for the rest of the year. Newspapers are a highly profitable, but cyclical, business. Their biggest costs are labor, followed by newsprint. Advertising revenues put fuel in a newspaper's tank. The price of the paper is important, too, but circulation has been declining at many papers, including this one, for a decade. Right now, the newspaper business cycle is pointing downward for two reasons: A 17 percent rise in newsprint prices has hit at the same time as a slide in advertising revenue.
February 23, 2000 |
A federal appeals court yesterday denied a request by the publisher of The Inquirer and Daily News and two other newspaper companies to temporarily block SEPTA from distributing its free daily newspaper in areas off-limits to other publications. The three-judge panel of the U.S. Court of Appeals for the Third Circuit also unanimously denied a motion by the newspapers for an expedited appeal. The one-sentence order signed by U.S. Circuit Judge Dolores K. Sloviter gave no explanation for the ruling and did not specify a schedule under which the appeal will be heard.