Fishbowl6thBorough: One Bidder Down, Staffers Disgruntled As Philly Newspaper Auction Rolls Along
The auction for Philadelphia Newspapers LLC’s publictions (the Inquirer, Philadelphia Daily News, and Philly.com) began early this morning here in New York.
Canada’s Stern Group has not made a bid, but still has the option to re-enter the auction later on. According to Philly.com, this leaves the bankrupt company in the middle of a bidding war between two groups – the firm’s senior lenders and a Philadelphia-based investment group. We previously reported that California-based businessman Rob Burkle had dropped
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