USA TODAY / AP: Philadelphia’s two largest newspapers will be sold at an ascending-bid auction open only to insiders, a Delaware judge ruled Friday.
The decision is a victory for majority owner George Norcross in his fight for control of The Philadelphia Inquirer and Philadelphia Daily News.
Norcross, who favors “hyper-local” coverage, holds a 52% stake in the company, and his faction a 58% stake. [Lewsi] Katz holds a 26% stake, and his ally, philanthropist H.F. “Gerry” Lenfest, holds a 16% stake.… (more)
