PHILADELPHIA (CBS) — Philadelphia’s two major daily newspapers have been restored to local ownership. A group of business, civic, and political leaders have paid $55 million for the Inquirer, Daily News, and their web site.
It is the fifth time in six years the newspapers are being sold.
Managing partners of the new ownership group are South Jersey parking lot magnate Lew Katz and Cooper Hospital chairman George Norcross III, a pair whose political and business interests made journalists nervous as the sale was conducted in extreme secrecy.
For full story go to: http://philadelphia.cbslocal.com/
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