Philadelphia Media Network Inc.
A rail car loaded with 1,500-pound rolls of newsprint is at the heart of the lawsuit filed by Sarah Troester of Claymont, Del.
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.
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.
The savior of many a Philadelphia arts nonprofit is tapped to help another struggling institution — the city’s daily newspapers.
A spokesman for Philadelphia Media Network, which owns the Philadelphia Inquirer and Daily News, has apologized for the removal of a reporter’s story earlier this week from the philly.com web site.
Could there be a conflict of interest in the way Philadelphia’s two major papers cover city government in the future?
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