The bidding will start at $77 million. That’s the minimum figure the three-person faction led by George Norcross and his rivals, Lewis Katz and Gerry Lenfest have pledged.
The feuding owners fighting for control of the Philadelphia Inquirer and Daily News now know more about a potential third bidder, the Newspaper Guild. It represents reporters, photographers and others.
Bill Ross, executive director of the Newspaper Guild, which represents newsroom workers, says the “company appears to be gridlocked.”
But Lewis Katz and Gerry Lenfest say they’re not interested in selling.
The owner of the Inquirer, Daily News, and philly.com says it may liquidate operations if it doesn’t reach new contracts with its labor unions by next Friday.
Meanwhile, the union that represents workers at Philadelphia’s two major daily newspapers is challenging the layoffs.
Today was the day that new owners were scheduled to take over the Philadelphia Inquirer and Daily News. But the immediate future of the media company remains uncertain.