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Philadelphia Newspapers Up For Auction(auction date: Sept. 23)
The Street ^ | 09/15/10 | Theresa McCabe

Posted on 09/15/2010 8:25:22 AM PDT by TigerLikesRooster

Philadelphia Newspapers Up For Auction

Theresa McCabe

09/15/10 - 10:06 AM EDT

NEW YORK (TheStreet) -- The auction for The Philadelphia Inquirer and Philadelphia Daily News is set for Sept. 23 after creditors missed Tuesday's deadline to complete their planned $139 million buyout.

The two newspapers, run by private company Philadelphia Media, have been operating under Chapter 11 bankruptcy protection since February 2009.

In April, a combination of hedge funds including Angelo Gordon and Alden Global Capital agreed to purchase the newspapers out of bankruptcy protection. The sale was not finalized due to unresolved labor contracts with the papers' truck drivers, also known as Teamsters.

Now Chief U.S. Bankruptcy Judge Stephen Raslavich is auctioning off the newspapers to be sold "as is," with no conditions attached, and the deal should be complete by Oct. 12.

(Excerpt) Read more at thestreet.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: auction; liberaldoom; newspaper; philadelphia

1 posted on 09/15/2010 8:25:25 AM PDT by TigerLikesRooster
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To: TigerLikesRooster

I bid 35-cents.


2 posted on 09/15/2010 8:28:29 AM PDT by TomGuy
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To: TigerLikesRooster

$1 and F- the Teamsters.


3 posted on 09/15/2010 8:28:37 AM PDT by UnbelievingScumOnTheOtherSide (REPEAL OR REBEL! -- Islam Delenda Est! -- I Want Constantinople Back. -- Rumble thee forth.)
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To: TigerLikesRooster

Good! There is a reason why the Inquirer is bankrupt and WSJ isn’t.


4 posted on 09/15/2010 8:28:49 AM PDT by Doulos1 (Bitter Clinger Forever)
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To: TigerLikesRooster

sold asses


5 posted on 09/15/2010 8:30:19 AM PDT by UnbelievingScumOnTheOtherSide (REPEAL OR REBEL! -- Islam Delenda Est! -- I Want Constantinople Back. -- Rumble thee forth.)
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To: UnbelievingScumOnTheOtherSide

Disgusting liberal rags. Maybe the owner of the Philadephia Bulletin can pick em both up for a buck and clean them up and out.


6 posted on 09/15/2010 8:31:28 AM PDT by curth (SarahPac: Over 2 million members! Are you in for $20.12?)
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To: UnbelievingScumOnTheOtherSide

You know, I was wondering where all the LSM outlets were getting their money. It might have been ad revenue, but when your ratings are dismal, the rates drop, so where were they getting their money?

Here, we learn that at least the two ‘newspapers’ in Philadelphia couldn’t even get that much AND that there appears not to be outside flows coming in. I was worried that there was some kind of arcane money flow from the government somehow.

I know, paranoid on skates. Glad to see I can drop the thought.


7 posted on 09/15/2010 8:32:17 AM PDT by BelegStrongbow (St. Joseph, patron of fathers, pray for us!)
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To: Doulos1

After WSJ’s rant on TeaPartiers yesterday, it’s fine with me if they aren’t far behind!


8 posted on 09/15/2010 8:34:37 AM PDT by Tucker39
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To: Owl_Eagle; brityank; Physicist; WhyisaTexasgirlinPA; GOPJ; abner; baseballmom; Mo1; Ciexyz; ...

ping


9 posted on 09/15/2010 8:35:56 AM PDT by Tribune7 (The Democrat Party is not a political organization but a religious cult.)
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To: TigerLikesRooster

“Philadelphia Newspapers Up For Auction(auction date: Sept. 23)”

Let’s see how much change I have here in my pocket... There’s a quarter... couple a nickels... oh, oh, a dime!... two pennies...

I know, I know, I’m overpaying.


10 posted on 09/15/2010 8:37:30 AM PDT by sitetest ( If Roe is not overturned, no unborn child will ever be protected in law.)
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To: Tribune7

Oh NOOOOOOO!!!

Without the inky and the dn, where will I get the news that matters about my city???

bleacherreport.com, espn.com and nfl.com I guess.


11 posted on 09/15/2010 8:45:09 AM PDT by South Hawthorne (In Memory of my Dear Friend Henry Lee II)
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To: TigerLikesRooster
You know when you see people trying (unsuccessfully, mostly) to give away a product on a commuter-rail platform, the manufacturer of that product is having basic problems with its value proposition.
12 posted on 09/15/2010 8:50:30 AM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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To: TigerLikesRooster

In a recent Forbes, the publisher Rich Karlgard issued a great line....
“Speed Rules.... Newsweeklies now sell for $1. Mind you, not the product, but the company”

Union drivers would do well to pay heed. They are barely required in an age where news is delivered instantly to you I phone or Blackberry


13 posted on 09/15/2010 8:50:30 AM PDT by bert (K.E. N.P. N.C. +12 ..... Greetings Jacques. The revolution is coming)
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To: Tribune7

Wow,Let’s all buy it.


14 posted on 09/15/2010 8:58:16 AM PDT by fatima (Free Hugs Today :))
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To: Tucker39

Your right there. Let’s hope that they get a house cleaning too. If not they will fail in time. Internet kills newspapers. It kills liberal ones faster.


15 posted on 09/15/2010 9:08:42 AM PDT by Doulos1 (Bitter Clinger Forever)
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To: fatima
No way. That's a sucker's bet.

'

16 posted on 09/15/2010 2:33:20 PM PDT by Tribune7 (The Democrat Party is not a political organization but a religious cult.)
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To: Tribune7
Get it cheap and do Conservative.Bet The Bulletin owner is there for the auction.His problem was distribution.
17 posted on 09/15/2010 3:29:57 PM PDT by fatima (Free Hugs Today :))
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