April 17, 2014 |
IT APPEARS as if the auction is already underway for control of the Daily News , Inquirer and Philly.com. Wealthy businessman Lewis Katz said in Delaware Chancery Court yesterday that he is prepared to match the $77 million that partner-turned-rival George Norcross has offered for Interstate General Media, parent company of the three media organizations. Katz and Norcross, the co-managing partners of IGM who want to force each other out, were back in court yesterday with a small army of lawyers, seeking to convince Judge Donald F. Parsons Jr. that their respective auction plans are in the company's best interests.
April 16, 2014 |
NOW LOOK: We can do this the easy way, or we can do this the hard way. That, in so many words, was the message a Delaware Chancery Court judge heard yesterday during the first of three hearings to determine how the looming sale of the Daily News, Inquirer and Philly.com should unfold. George Norcross III, the co-managing partner of the papers' parent company, Interstate General Media, reiterated his desire for a private auction that would be limited to a small group of players: Norcross, IGM co-managing partner Lewis Katz, chairman H.F. "Gerry" Lenfest and, possibly, financial backers aligned with the Newspaper Guild.
April 4, 2014 |
Peter W. Dorsa, 71, of Egg Harbor Township, N.J., a truck driver for The Inquirer from 1987 until he retired in 2011, died at Shore Medical Center in Somers Point, N.J., after a heart attack at his home. Born in Philadelphia, Mr. Dorsa graduated from Roman Catholic High School and was a Marine Corps infantryman in Vietnam, a daughter, Joanne, said. He then was a member of the Army Reserve from 1974 to 1991. Mr. Dorsa began his career as a driver at Brink's, the armored car firm, she said.
April 1, 2014 |
THE Daily News has won the top honor among the state's largest newspapers in the 2014 Keystone Press Awards. The People Paper captured seven first-place awards, eight second-place prizes and four honorable mentions, giving the newspaper the top "sweepstakes" total for all Pennsylvania papers with a circulation of at least 75,000. The Daily News staff won two first-place awards: * Breaking news, for "Razing Hell," coverage of the building collapse in June at 22nd and Market streets that killed six people.
January 28, 2014 |
THE AIR WAS redolent of charred wood, the furniture black with soot, half-burned papers were strewn about - but in the cherished tradition of journalism, the staff got the newspaper out. Someone had deliberately set a Dumpster on fire in 1998 outside the building in North Philadelphia where the weekly Community Focus was being published, and the fire spread into the building. Drug dealers were believed responsible, angered by editorials demanding they be shut down. But this wasn't the first time the newspaper was the target of somebody's anger.
January 15, 2014 |
FOR MONTHS, a union representing 550 employees at the Daily News, Inquirer and Philly.com has remained neutral as a civil war raged among the investors who own the media outlets. Yesterday, Local 38010 of the Newspaper Guild sought to become a player in the endgame. The guild asked a Philadelphia Common Pleas judge to allow it and unnamed financial backers to participate in an auction of the company's assets. One faction of the owners, led by Lewis Katz, asked the court on Jan. 2 to approve a public auction to sell the company.
January 12, 2014 |
A Philadelphia judge has ordered the owners battling for control of The Inquirer's parent company to come to her courtroom Monday, and explain why she should not dissolve their partnership and approve a public auction of the company. In an order issued late Friday, Common Pleas Court Judge Patricia A. McInerney scheduled a 10 a.m. hearing on a petition filed by Lewis Katz and H.F. "Gerry" Lenfest to dissolve the 2012 partnership that formed Interstate General Media. "We asked for this expedited decision and are very pleased with this outcome," their spokesman, Jay Devine, said in an e-mail.
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.
January 7, 2014 |
WHEN JULIE Liedman arrived at the Philadelphia Bulletin as a fresh-faced kid out of Penn State in 1967, she needed to learn how to be a reporter and writer for a big-city daily. Lucky for her, there was a friendly, lighthearted and supremely talented editor to help her learn the trade. Peggy Higgins was suburban editor for the Bulletin and she took Julie under her wing. A sharp contrast to some of the gruff and crusty men who ran the news operation for the newspaper that nearly everybody read, Peggy was kind and understanding.
January 5, 2014 |
TWO INVESTORS in the company that owns the Inquirer , the Daily News and Philly.com have asked different judges to approve competing plans to auction the media properties. Lewis Katz, one of five investors in Interstate General Media Holdings, filed a petition Thursday in Philadelphia Common Pleas Court to dissolve the company. George Norcross III, an investor at odds with Katz for months, filed his own petition yesterday in Chancery Court of Delaware, the state where the company was incorporated in 2012.