By Mark Abrams
PHILADELPHIA (CBS) – The Philadelphia Inquirer and Daily News may once again be headed for new ownership.READ MORE: Teammates, Coaches Hold Emotional Vigil For Tyler Norton, Boy Killed In Pottstown House Fire
The New York Post reported over the weekend that the owner, Philadelphia Media Network, is already meeting with potential buyers.
The report claims Philadelphia Media Network is hoping to get roughly $100-million for the papers and news website Philly.com.
The story quotes sources close to the situation as saying the company already is looking for bids in an auction or sale of the properties in the coming weeks.READ MORE: Veterans Transform Historic Train Station Into 'Incredibly Special' Cafe In Radnor Township
So far, publisher Greg Osberg and executive vice president Bob Hall have not returned calls from KYW Newsradio seeking comment on the story.
Bill Ross, executive director of the Newspaper Guild of Greater Philadelphia, says he was caught off guard by the story. “I was quite surprised. And, I was, I think more surprised that we haven’t heard anything from Philadelphia Media Network either in writing or any type of press release.”
Ross says local managers so far have been silent, “We just let our members know with a bulletin that’s also on our website, basically a link to the New York Post report and that we will get any information from the company as soon as we hear it.”
The Post report says Alden Global, one of the hedge funds which has a 30% stake in the papers, is behind the push for the sale.MORE NEWS: Mama-Tee's Effort To Combat Food Insecurity During Pandemic Expands Into Pop-Up Grocery Store
Alden Global owns the Journal Register Company, which publishes several suburban daily newspapers in the region.