PITTSBURGH POST-GAZETTE Editorial:   Philadelphia’s newspapers, The Philadelphia Inquirer and its tabloid sister The Daily News, announced Monday that they have new owners, sparing Pennsylvania’s largest city a devastating blow to its civic, commercial and informational life.

A consortium of business and political leaders from that region bought the Philadelphia Media Network for $55 million, less than half of what another set of investors paid for it two years ago. The new ownership includes George E. Norcross III, an influential Democrat in southern New Jersey; Lewis Katz, a key player in the parking industry; and Joseph Buckelew, a Republican fundraiser and insurance brokerage owner. Former Gov. Ed Rendell, who formed the group last year, withdrew from it.

Since the Revolutionary era, Philadelphia has fostered a tradition of robust and independent journalism devoted to the public good. Many of journalism’s best practices were born on that city’s cobblestone streets and in its early newsrooms. The Inquirer has showcased some of the nation’s best investigative reporting and won 18 Pulitzer Prizes, the newspaper industry’s highest accolade…  (more)