June 12, 2014 |
JUST 10 DAYS after a plane crash took his father's life, Drew Katz confirmed last night that he's selling his stake in the Daily News, the Inquirer and Philly.com to philanthropist H.F. "Gerry" Lenfest, making Lenfest the company's sole owner. "Because of the turmoil of the last 10 days, I have made a decision that it would be in the best interests of The Inquirer, Daily News and Philly.com for me to sell my interest in the company," the 42-year-old son of Lewis Katz said in an email to local journalists.
June 4, 2014 |
FORMER Philadelphia newspapers CEO Brian Tierney is coming back to advise the new ownership of the Daily News, the Inquirer and Philly.com on gaining more advertising - one of a flurry of personnel moves announced yesterday in the wake of the private-jet crash that took the life of co-owner Lewis Katz. H.F. "Gerry" Lenfest, co-owner and interim publisher, announced Tierney's return in an email to staffers, saying that Tierney will work directly with him in an effort to woo advertisers.
May 22, 2014 |
WHEN INTERSTATE General Media goes up for auction Tuesday, one group won't be allowed to sit in on the proceedings: the media. So says Delaware Chancery Court Judge Donald F. Parsons Jr., who sided yesterday with the wishes of Lewis Katz and H.F. "Gerry" Lenfest, one-half of the warring owners of IGM, the parent company of the Daily News , the Inquirer and Philly.com. Katz and Lenfest wanted the auction - which will be held at the Cira Centre law office of Dechert LLP - to unfold behind closed doors.
May 2, 2014 |
THE OKLAHOMAN newspaper got some flak for describing Thunder star Kevin Durant as "Mr. Unreliable" in a headline yesterday. Not from the five-time All-Star, but from his mother, Wanda Pratt. Pratt, who tweets as @MamaDurant, wrote "Typical Oklahoman on Kevin. UNBELIEVABLE!! KEVIN is RELIABLE!!!" The Oklahoman responded by apologizing. "We take great pride in our headlines about big sporting events and news in Oklahoma," sports editor Mike Sherman said in a statement.
April 26, 2014 |
WILMINGTON - The largest union at The Inquirer will not bid against its owners in an auction for control of the parent company if the bidding starts at $77 million, a lawyer for the union said Thursday. At the start of a hearing that could shape the sale of the company, lawyer Lisa Lori told a Delaware judge there was "no way" the Newspaper Guild or its investing partners were willing to match the $77 million that rival co-owners of Interstate General Media Holdings L.L.C. have pledged as a starting bid. Donald F. Parsons Jr., Delaware Court of Chancery vice chancellor, then heard about 90 minutes of closing arguments from lawyers for IGM co-owners Lewis Katz, H.F. "Gerry" Lenfest, and George E. Norcross III over the format for sale of the company.
April 25, 2014 |
A ND THEN there were two - again. The Newspaper Guild of Greater Philadelphia, the largest employee union at the Daily News , the Inquirer and Philly.com, announced yesterday that it was no longer interested in bidding in the upcoming auction for the city's largest news operation. Why? The price is too damn high. That leaves the two factions led by businessmen George Norcross and Lewis Katz - the feuding co-managing partners of parent company Interstate General Media - as the only parties currently seeking to purchase the newspapers and website.
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.