BUSINESS
May 20, 2012
"It is clearly the most valuable and largest community in the world. It's like a new town square — a new water cooler. " — Vincent Schiavone, cofounder of ListenLogic, a market research company based in Fort Washington, speaking of Facebook Inc., which raised more than $16 billion in an initial public offering of shares. "We're long-term investors. It's nice to have the stock up for one day, but it's only one day. It's hard to extrapolate much as to the future of the company.
NEWS
May 13, 2012 | BY DAVID GAMBACORTA, Daily News Staff Writer
WELL, THAT was quick. Greg Osberg, the publisher and chief executive officer of Philadelphia Media Network - the parent company of the Daily News , Inquirer , Philly.com and SportsWeek - stepped down Friday, a little more than a month after a group of local investors bought the company for $55 million. The 54-year-old Paoli native had served as the publisher since 2010, when the media company emerged from a lengthy bankruptcy in the hands of out-of-town hedge-fund groups.
NEWS
May 12, 2012 | By Kasie Hunt, Associated Press
WASHINGTON - Mitt Romney apologized Thursday for "stupid" high school pranks that he said may have gone too far and moved quickly to stamp out any notion that he bullied schoolmates because they were gay. His swift response reflected the Republican presidential candidate's recognition that his record on gay rights is under heightened scrutiny after President Obama's embrace of gay marriage. One day after gay rights moved to the center of the presidential race with Obama's announcement on same-sex marriage, a Washington Post report about Romney's high school escapades nearly 50 years ago added a personal dimension to Democrats' contention that he's out of step on the sensitive topic.
SPORTS
May 12, 2012 | By Sam Carchidi, Inquirer Staff Writer
Flyers goalie Ilya Bryzgalov refused to talk to reporters during the team's postseason media day Thursday, but he candidly told a Russian newspaper he was fed up with the scrutiny he was under during his first year with the club. "What I lived through this season I wouldn't wish to an enemy," he said to reporter Natalia Bragilevskaya of SovSport. ". . . I need to keep working. I understand the fans. They paid their money and want the show. But many forget that we are not robots, but living people.
BUSINESS
April 14, 2012 | By Harold Brubaker, Inquirer Staff Writer
The Philadelphia Historical Commission's approval Friday of a sign for The Philadelphia Inquirer on the former Strawbridge & Clothier department store at Eighth and Market Streets unleashed a brief uproar over the status of the Daily News under the new owners of Philadelphia Media Network. The historical commission decision involved a Market Street entrance to the headquarters of the media company, not the corner of Ninth and Market, where the company plans a digital display. KYW radio initially reported on its website that "only the Inquirer's name will be featured on the marquee" and not that of the Daily News.
NEWS
April 11, 2012 | By Victor Pickard
This newspaper's parent company sold last week for $55 million, a staggering $460 million less than what it fetched in 2006. The plight of the company, which also owns the Daily News and Philly.com, reflects trends afflicting newspapers across the country, which continue to bleed revenue and jobs as readers and advertisers migrate to the Internet. It seems that advertising-fueled newspapers, nearly the last institutional bastion of journalism, are not sustainable. The Philadelphia papers' questionable salvation came in the form of rich benefactors.
NEWS
April 10, 2012 | By Matt Katz, Inquirer Politics Writer
If Mitt Romney secures the Republican presidential nomination, he might want to start worrying about whether Rick Santorum is going to give him the John McCain treatment. Twice in the 2008 primaries, as McCain was closing in on the nomination, Santorum took to his newspaper column to trash him as moderate. McCain "has too often joined the very people who seek to destroy and replace what we fight to conserve and improve," Santorum wrote. "And so we wonder: Is this the man we can trust to take our case to the American people?"
BUSINESS
April 5, 2012 | By Bob Fernandez, Inquirer Staff Writer
The Inquirer is launching a service that seeks to enhance the newspaper through interaction with tablets and smartphones. Using the cameras embedded in such devices, readers will be able to scan photographs or advertisements in the newspaper to access hidden content, which will then be streamed to the devices. Readers could, for instance, watch a special video or hear an interview associated with a newspaper story, or they could get updates through the day on a breaking news story.
NEWS
April 5, 2012 | By James Osborne, Inquirer Staff Writer
Earlier this year, Trenton-based Republican consultant Rich Ambrosino's phone started ringing off the hook. It had just become public that one of New Jersey's most powerful political figures, George E. Norcross III, was part of an investor group looking to buy Philadelphia Media Network, the parent company of The Inquirer, and other politicians were worried, Ambrosino said. "The political culture being what it is, there's always going to be Republicans saying, 'He's doing it to influence public policy outcomes,' " he said.
NEWS
April 2, 2012 | By Mike Armstrong, INQUIRER STAFF WRITER
The pursuit of The Inquirer, Philadelphia Daily News, and Philly.com began in October with an unsolicited offer by two businessmen with South Jersey roots, Lewis Katz and George E. Norcross III. It ended Monday with Katz, Norcross, and four other local investors paying $55 million to acquire the daily newspapers and their related website from the hedge funds and financial firms that had owned them since they emerged from bankruptcy in 2010....