Philadelphia Media Network
The publisher and CEO of Philadelphia’s two biggest newspapers is stepping down.
Two-time Pulitzer Prize-winner Bill Marimow was unceremoniously yanked as executive editor when hedge funds took control of the papers a year and a half ago, but two days after local investors bought the paper, Marimow was rehired for his old job.
Philadelphia’s two largest newspapers could trade hands Monday for the fifth time in six years.
Senior managers who run the Philadelphia Inquirer and Daily News envision cutting even more jobs, to cut payroll and clear the deck for potential new owners.
Chris Murray of the Philadelphia Association of Black Journalists says he understands that the union contract requires the last hired to be laid off first, but he thinks some adjustments are needed.
Wednesday was the deadline for employees of Philadelphia’s two major daily newspapers to decide whether to resign in exchange for a buyout payment.
The sale is being conducted with the kind of secrecy normally reserved for a national security event.
Former Governor Ed Rendell talked to WPHT-AM Monday about his possible involvement in buying the Philadelphia Media Network, which includes the Inquirer and the Daily News.
Former Governor Rendell’s connections may bring in local investors to potentially bid for the company that owns the Philadelphia Inquirer and Daily News.
“PMN is owned by a group of hedge funds and investment banks, and because of that ownership division, PMN is always up for sale,” a spokesman for Philadelphia Media Network tells KYW Newsradio.
The ‘New York Post’ reported over the weekend that the owner, Philadelphia Media Network, is already meeting with potential buyers.
Hall of Fame sports columnist Bill Conlin, of the Daily News, retired abruptly Tuesday, after learning that the Philadelphia Inquirer was publishing a story containing allegations that he abused four children, including his niece, in the 1970′s.
Judge Sheila Woods-Skipper has upheld a Municipal Court judge’s ruling that bars attorneys, defendants, witnesses, victims, and some minors from commenting on the case against Linda Weston and three other defendants.
Philadelphia Media Network is moving from 400 North Broad to the former Strawbridge’s building.
The publisher of the Inquirer and Daily News hope to attract new subscribers who aren’t used to having ink-stained fingers every morning.