Posts for daily news

The Gov And Ed Snider Are Interested In Buying The Inquirer And Daily News

Kyle - February 4, 2012

Ed Rendell And Ed Snider

Maybe that bat phone that Ed Snider uses has been busy making calls to the Daily News and Inquirer.

Rendell and Snider are apparently leading a "civic-minded" effort to buy the two newspapers. [The Washington Post]

The six-person group submitted a non-binding “letter of interest” Thursday in Philadelphia Media Network, which operates The Philadelphia Inquirer and Philadelphia Daily News.

News reports surfaced this week that two hedge funds with major stakes in the company want to sell. The firms, Alden Global Capital and Angelo Gordon, had led the creditors’ $139 million takeover of the company at a September 2010 bankruptcy auction.

 

The Gov has a vision. “These are civic-minded people who believe we should have healthy, strong newspapers," he said.

That's deep.