More Troubles For Philly Papers

Last year, it is arguable that no one city was hit the hardest in the newspaper industry recession than Philadelphia. Both the Philadelphia Enquirer and Philadelphia Daily News were forced to declare Chapter 11 under the umbrella of their publisher, Philadelphia Newspapers LLC. They were subsequently bought out by hedge-fund investors, but the price of two of the city’s biggest local papers remains unknown, and a federal judge has just backed up the creditors claim that they do not have to reveal the number.