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Publisher Of 2 Philadelphia Newspapers Steps Down

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(Credit: William Thomas Cain/Getty Images)

(Credit: William Thomas Cain/Getty Images)

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PHILADELPHIA (AP) — The publisher and CEO of Philadelphia’s two biggest newspapers is stepping down.

Greg Osberg announced Friday he’s leaving the post that oversees The Philadelphia Inquirer, the Philadelphia Daily News and the shared website Philly.com.

The move comes six weeks after new owners took control of the media properties. Osberg is being replaced by current Chief Operating Officer Bob Hall.

Osberg had led parent company Philadelphia Media Network Inc. since 2010, when the struggling newspapers were sold at a bankruptcy auction to a consortium of hedge funds and banks.

A group of local businessmen and powerbrokers bought Philadelphia Media Network in April for about $55 million. Osberg was criticized for interfering with stories about the sale.

Osberg says he’ll remain an adviser to the company, focusing on digital strategies and advertising sales.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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