When the feud between rival ownership factions surfaced, the primary combatants — co-owners George Norcross and Lewis Katz — each owned equal shares, about 26 percent of the company.
There was yet another surprise in the lawsuit between the warring owners of the Philadelphia Inquirer.
Publisher Robert Hall once told workers the current lawsuit represents the “Allies versus Axis powers,” and they “can’t be Switzerland and sit neutral in the middle,” according to recent testimony.
Lawyers and rival owner factions at the Philadelphia Inquirer return to a City Hall courtroom this morning for more arguments, as a Common Pleas Judge tries to decide who is in charge.
Lawyers for rival owner factions at the Philadelphia Inquirer were making arguments n a Philadelphia courtroom on what they say has been “editorial interference” by the ownership group.
But Lewis Katz and Gerry Lenfest say they’re not interested in selling.
High-powered lawyers made their pitches on venue: Philadelphia, where the papers are based; or Delaware, where the company is incorporated.
In a two-week span, publisher Bob Hall fired editor Bill Marimow, two co-owners filed a lawsuit seeking to re-instate Marimow and fire Hall, and another owner filed a counter-suit.
When publisher Robert Hall fired Inquirer editor Bill Marimow last week, the feud among the owners of the Philadelphia Inquirer and Daily News become public.
Two of the Inquirer’s owners are suing its parent company and its publisher.
The new, $100-million MD Anderson Cooper Cancer Center features state-of-the-art treatment facilities.
This year saw Philadelphia’s two daily newspapers change hands for the fourth time in five years, in a secretive deal that involved hedge funds, local political bosses, and the censoring of reporters’ stories.
The owners of the Philadelphia Inquirer and Daily News held an open house in their new headquarters, on the third floor of a former department store at 8th and Market Streets.
A group of powerful business leaders announced Monday they have closed a deal to purchase Philadelphia’s two largest newspapers from hedge funds for approximately $55 million, a fraction of what investors paid for them in 2006.
An announcement is expected, today, in the sale of the Philadelphia Inquirer and Daily News. A controversial group of local businessmen is likely to be the new owners.