Judge: Philadelphia Inquirer, Daily News To Be Sold To Insiders
By Mike Dougherty
PHILADELPHIA (CBS) — The bidding will start at $77-million dollars for ownership of the Philadelphia Inquirer and Daily News.
A judge ruled Friday that the papers will be sold at auction open to insiders only.
The decision is considered a victory for majority George Norcross who has been fighting with fellow investor Lewis Katz over how to run the papers. Katz was hoping for a sealed bid auction open to anyone.