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Philadelphia Papers Bought For $55M
- New York Times, Monday, April 2, 2012 3:26 PM
A group of the Philadelphia area's "most powerful business and political leaders" -- including George E. Norcross III, "a Democratic powerbroker in South New Jersey" -- just bought the Philadelphia Media Network for $55 million, writes Amy Chozick. The company publishes the Inquirer, The Daily News and Philly.com.
The new owners said that "they had agreed to sign a pledge drafted by 300 newsroom employees concerned about potential interference," writes Chozick.
