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Thursday, August 20, 2009 Local investors bid to own Philly newspapers A group of local investors led by real estate executive Bruce Toll is offering a plan valued at $92 million to purchase the Philadelphia Inquirer, the Philadelphia Daily News and philly.com, and lead the organization out of bankruptcy. According to a release, the new ownership group would include the Carpenters’ Union Pension Fund and Penn Matrix Investments. “Today, Philadelphians once again stepped up in a big way. The Philadelphia Inquirer, Daily News and philly.com filed a reorganization plan that will allow the company to emerge successfully from bankruptcy while...

Philadelphia Newspapers, the company that publishes the Philadelphia Inquirer, admitted in court filings last week that if it does not get a proposed loan, it would have to cease publication. "Absent the proposed DIP facility and the use of the cash collateral, the debtors likely will be unable to pay their ordinary business expenses, including employee wages," said the filing. "In that event, all operations will cease -- employees will be terminated, the Philadelphia Inquirer will no longer be published, and all assets on which the prepetition senior lenders assert a lien will be liquidated." The filing did not give...

Philadelphia Newspapers L.L.C., which owns The Inquirer, the Philadelphia Daily News, and Philly.com, filed for bankruptcy protection today in a bid to restructure its $390 million in debt load. The company, bought by a group of Philadelphia-area investors for $562 million in 2006, said the voluntary Chapter 11 filing would not interrupt its daily operations.

The Bulletin and other media outlets have recently disclosed ongoing discussions between Pennsylvania Gov. Ed Rendell, D, and Philadelphia Media Holdings (PMH) Publisher and CEO Brian Tierney. A possible taxpayer bailout of the struggling media company stands at the heart of the issue. PMH bought the Philadelphia Inquirer and Daily News in 2006 for $562 million, and approximately $400 million remains in debt. The company defaulting because it has not made a payment on its loan since June of last year. There has been significant public opposition to a media entity seeking financial support from the government, including a Wall...

It is no secret the Philadelphia Inquirer and Daily News have severe financial difficulties. The parent company of both newspapers, Philadelphia Media Holdings, has missed its debt payments since June, and according to Bloomberg News, the company is in “technical default” on its loans. The papers were bought from the McClatchy Company in 2006 for $562 million. There are currently no buyers, especially given the recent volatility experienced by media entities nationwide. Making the situation even more precarious is that, even if there were a prospective buyer, obtaining financing in these market conditions is difficult, if not impossible. The Tribune...

The owner of The Philadelphia Inquirer and Daily News has missed a June 1 interest payment on $85 million of loans and is in talks with lenders for relief, according to a report released Thursday by a debt ratings agency. Philadelphia Media Holdings LLC did not maintain the necessary senior debt-to-cash flow ratio -- which can happen when cash flow shrinks -- required by its senior lenders, according to Standard and Poor's Leveraged Commentary and Data unit. As a result, senior lenders blocked the company's interest payments to $85 million in junior loans held by another group of lenders. That's...

This morning’s meeting over at 400 North Broad was worse than anybody thought. Straight from a Newspaper Guild release: Tierney: We Face A Dire Situation The company held a meeting this morning with representatives of all the unions at which publisher Brian Tierney described a grim financial picture for Philadelphia Newspapers. Citing the struggling economy and PN problems meeting debt requirements, Tierney predicted “a dire situation” by summer or fall if the company cannot find ways to cut costs by 10 percent. Company executives intend to meet one-on-one with each union to discuss ways in which savings might be achieved....

From: Ferris, Kevin [mailto:kferris@phillynews.com] Sent: Friday, December 07, 2007 12:19 PM To: inquirer.letters@phillynews.com Subject: Letters needed Greetings The Inquirer is putting together a few advance letters packages for the weeks during the holiday, and as a former letter writer we wanted to invite you to participate. You have four chances to write, in response to the four questions below. You’re welcome to submit replies to as many of the questions as you like, though I’ll warn you in advance that we won’t be able to publish all the replies that we receive. You’ll see that two of the questions are...

PHILADELPHIA - The Philadelphia Inquirer on Tuesday began a round of long-expected layoffs amid a drop in circulation and ad revenue. Several reporters at the Inquirer, Pennsylvania's largest newspaper, said they were told Tuesday morning that their jobs were being eliminated. The employees said that they were told to meet with personnel officials on Wednesday to discuss details of their severance pay and health benefits. The specific number of layoffs is still unclear because some Inquirer employees have already taken other jobs since word of the impending layoffs was announced in November. Neither company spokesman Jay Devine nor Inquirer editor...

PHILADELPHIA (AP) - The largest union at Philadelphia's two biggest daily newspapers is planning to launch an online newspaper to compete with the company Web site if workers go on strike after midnight on Thursday. Employees from The Philadelphia Inquirer and Philadelphia Daily News would contribute local content that will be edited and posted online, said Stu Bykofsky, a Daily News columnist and spokesman for their union, The Newspaper Guild of Greater Philadelphia. ``It's to provide news and information for the community so they won't be deprived,'' he said. In competing with Philly.com, the union's PhilaPapers.com would sell ads and...

PHILADELPHIA -- The largest union at Philadelphia's two major daily newspapers said Monday that its members don't want another one-month contract extension and are prepared to go on strike once the current pact expires Thursday. The Newspaper Guild of Greater Philadelphia, which represents over 900 workers at The Philadelphia Inquirer and Philadelphia Daily News, met with management over the holiday weekend and made limited progress, said union President Henry Holcomb. The union is especially opposed to proposals by owner Philadelphia Media Holdings to take over the pension plan and scrap seniority. The company has proposed halting payments to the pension...

Brian Tierney, a onetime critic of the Philadelphia Inquirer who wound up buying the paper, is determined to take his new property in a different direction. "We don't need a Jerusalem bureau," he says. "What we need are more people in the South Jersey bureau." But six months after this advertising and public relations executive gained control of a once-proud newspaper that routinely ranked among the country's top 10, he is considering layoffs of as much as 30 percent of an already reduced newsroom staff. That would mean even fewer journalists covering those New Jersey suburbs and just about everywhere...

Guild authorizes strike at Philadelphia Inquirer, Daily News Members of the Newspaper Guild of Greater Philadelphia voted overwhelmingly to authorize a strike against the new owner of the city's two biggest newspapers. An estimated 500 of the union's 1,000 members who work for The Philadelphia Inquirer and Philadelphia Daily News attended a Guild meeting Thursday where leaders talked about how little progress has been made in negotiations. ... The key issues are a proposal to freeze contributions to the Guild's pension plan and take over control of the pension fund, and a demand that the company be able to lay...

NEW YORK Embroiled in difficult negotiations with the new owners of the two Philadelphia dailies, the Newspaper Guild of Greater Philadelphia has called for a federal mediator to be sent to the talks -- and this apparently will happen. Nonetheless, cutbacks and layoffs appear in the offing at the former Knight Ridder papers. The guild spelled out the situation in a message to its members, which was first posted at the Romenesko site. It is reproduced below in its entirety. *** The Guild Monday asked for a federal mediator to help reach a settlement with the Company on a new...

Proving that local owners are under the same pressure that big newspaper chains face, one of the new owners of The Philadelphia Inquirer and Daily News told employees this morning the papers are set to report one of the worst declines in ad revenue in its history. Brian Tierney, publisher of both papers, issued a memo to employees outlining the tough environment facing newspapers after meeting with several union representatives yesterday. The guild and management are currently negotiating new contracts. In the memo, Tierney explained that advertising revenue for July and August was down compared to the same months last...

McClatchy Co. is selling The Philadelphia Inquirer and the Philadelphia Daily News for $562 million to a group of local investors who hope to reverse circulation declines by emphasizing local news and doing more with the Internet. The two Philadelphia papers are being bought by a group led by advertising executive Brian Tierney and Bruce Toll, co-founder of luxury home builder Toll Brothers Inc. The papers are among 12 currently owned by Knight Ridder that McClatchy plans to sell. McClatchy and the investor group said in a statement that they intend to complete the deal around the same time that...

Onex Corp., a Toronto investment firm that is among the six known bidders for The Inquirer and Philadelphia Daily News, has floated plans for deep cuts in the newsrooms at both papers, according to Teamsters union leaders. Onex representatives have visited the city at least three times, meeting with publisher Joe Natoli, other newspaper executives and Teamsters leaders since the McClatchy Co. put the papers up for sale last month. McClatchy plans to buy the newspapers' owner, Knight Ridder Inc., this summer, but the Sacramento, Calif.-based chain is selling the newspapers in Philadelphia and 10 other cities. Bids for the...

NEW YORK As a collection of controversial cartoons depicting the Prophet Muhammad circulates online and through some European publications, prompting numerous acts of violence abroad, nearly all U.S. newspapers have chosen not to publish the cartoons. Although most American papers have covered the issue, with many running Page One stories, most contend the cartoons are too offensive to run, and can be properly reported through descriptions. While some have linked to the images on the Web, others are considering publishing one or more of them next week. Meanwhile, the Philadelphia Inquirer, day after complaining that The Associated Press should at...

The Inquirer and Daily News have announced plans to cut some 100 writers and reporters along with other newsroom employees.That is 16 percent of staff. Falling advertising revenues and circulation are blamed. Actually, sheer stupidity and arrogance could account for a good part of the declining circulation. I have tried over the past months to save the Inquirer, but alas, the left-wing, liberal commissars there have refused to follow my advice and accept my aid.They continue to preach to the choir.Anything and everything bad is "Bush's fault."Tony Auth is even calling Katrina "George's Hurricane."Inquirer editor Amanda Bennett said, "as long...

The rumor mill had it right. Buyouts aimed at reducing staffing at the Philadelphia Inquirer and its Knight Ridder stablemate The Daily News were announced this morning. In a memo to staff Tuesday, Daily News Editor Michael Days called it "a lousy day." He said full-time Guild-covered employees were eligible. "The goal is to reduce our staff by about 25 employees before the end of the year," he wrote. "The Inky's goal is about 75 staffers.

Philadelphia Newspapers Inc., publisher of The Inquirer and Daily News, said today it plans to eliminate 16 percent of newsroom jobs through buyouts or layoffs, blaming falling advertising revenues and circulation. The job cuts, similar to actions taken by other major newspapers in recent years, will reduce the number of Inquirer reporters and other newsroom employees by about 75, to 425, roughly its level in the early 1980s, according to union officials at the Newspaper Guild. The Daily News aims to cut about 25 positions, reducing its newsroom to 105 people, less than half the size at its peak in...

http://www.zwire.com/site/news.cfm?brd=2549&pag=460&dept_ID=514258 This is week 16 of our campaign to save the Inquirer and I will share with the powers-who-be at that august organization the following very welcome letter that comes from Martin Samchalk of Media.Dear Mr. Lawrence:I have been following your thoughtful efforts to save the Philadelphia Inquirer. As a subscriber for over 30 years, I have sent many letters to the Inquirer informing them how very wrong their editorials were. It was not working and I have been very dismayed at my lack of success.Last week, I came to a conclusion that by continuing to subscribe to the Inquirer,...

I recently suggested to Chris Satullo, the Inquirer's editorial page editor, that he may be able to organize a club to help biased journalists and pattern it after Alcoholics Anonymous. It appeared that he went on the wagon for a week. He even chastised his beloved Democrats for their actions on the Social Security issue. He was very reasonable and simply asked that they offer their own plan or solution to the problem. Then bang! On Sunday April 10, he had a Funky Winkerbean moment and fell noisily off the bias wagon. Tony Auth produced a hateful editorial-page cartoon lampooning...

It was a pleasant surprise to see a March 27 Inquirer editorial harshly criticizing the Democrats for failing to get serious about Social Security's financial problems. It appears that we are making headway in our crusade to save the Inquirer and the Democratic Party. The editorial states, "Democrats have nothing to fear but delusions itself. How can it be that, faced with a threat to a program that is one of their party's shining achievements, they have no plan to offer?"Go after them, Chris Satullo. Make the Democrats put up a plan that will serve America better than any the...

.In my ongoing crusade to save the Philadelphia Inquirer and the Democratic Party from extinction, I now offer tip number 6 of 21. Campaign for a flat tax. With tax day just a couple of weeks away, this is an ideal time to do it. ***How's this for an idea for a television series: Robert Blake and O.J. Simpson starring as private eyes looking for the killers of their wives? Don't laugh, it could happen.

Chris Satullo, the Inquirer's editorial page editor, on Sunday March 13, wrote a long, whimpering essay in which he insisted that the "serious journalists take duty seriously" at his newspaper. The poor guy could not understand why the readers of his paper do not take him seriously.I can supply a hint.He wrote, "The traditional standards include journalism's ethical golden rule: "Never engage in a conflict of interest, or even the appearance of a conflict, that would give reason to doubt your fairness and honesty in working in the public interest."He said, "You always have to pick up the check, you...

>Here is the fourth of 21 ideas to save the Democratic Party.Cut taxes! The Inquirer has a hard time with this one. The left-wing, liberal newspaper loves tax hikes and actually criticized the Cato Institute, the libertarian think tank that gave Fat Eddie Rendell an F when he led the charge to raise Pennsylvania's income tax.The Inquirer said he did not deserve the well-deserved dunce cap. Come on! Cooperate. We are trying to save the Democratic Party. Remember, the voters like the guys who cut taxes and who cut spending. Repeat after me, "Courage."***President Bush has nominated John R. Bolton,...

The rabid pro-Democratic Inquirer had a dim-witted idea to run 21 editorials on why to vote for John F. Kerry before the presidential election. What the Inquirer should do to save itself and its dying flock is run 21 editorials on what its party should do to survive.I am here to give advice and am tempted to quote Shakespeare's "Dick The Butcher" who said, "First thing we do, is kill all the lawyers." Both parties have too many lawyers, so that would be wholesale slaughter.The Inquirer should urge the Democrats to start fresh by getting rid of their chronic over-sexed...

The New York Times scooped the Philadelphia Inquirer on a story of which even Inky Executive Editor, Amanda Bennett, was aware. Ye gawds, Ms. Bennett was an important part of the story. The Times found it interesting that the left-wing, liberal paper had its senior editors calling former subscribers who cancelled after the bright lights at the paper decided to run a series of 21 straight "vote for John F. Kerry" editorials.The Times quoted Ms. Bennett as saying, "If the people I call say, 'Yes, I was mad at your editorial,' then the next thing I say is, 'Would you...

Q: Have you spoken with the Republican members of the Senate Judiciary Committee about your statements? A: I have talked to members of the committee, I'm not going to name names. (I have) spoken to most (of them). Some are traveling out of country. Q: What is your sense from them? A: The sense is once they know the facts, there is a generally favorable response. These men all know that I have voted for all the President's nominees in committee and on the floor... and we counted the number of floor statements I made during filibusters, 17 in total...

Fresh Air, October 26, 2004 · The 'Philadelphia Inquirer' is running a 21-day endorsement of Sen. John Kerry, outlining 21 reasons why voters should elect him president. Editorial page editor Chris Satullo and commentary page editor John Timpane talk about the endorsement. On the paper's op-ed page, they've invited guest commentators to write about the reasons why voters should elect Bush instead.

Save Roe: Elect Specter by Timothy P. Carney Posted Oct 19, 2004 The liberal Philadelphia Inquirer has endorsed Sen. Arlen Specter on the grounds that a vote for Specter is a vote to save Roe v. Wade, the 1973 ruling that overturned all state bans on abortion. In its endorsement of Specter, the Inquirer writes: Preserving the legality of abortion plays no small part in this decision. Sometime in the next four years, the chairman of the Judiciary Committee will very likely find himself in the pivotal role of scrutinizing at least one new Supreme Court nominee. Assuming that Republicans...

...Terry McAuliffe called the program "an illegal in-kind contribution" to the Bush campaign and said the Democratic National Committee is filing a complaint with the Federal Election Commission. Over at the FCC, Democratic Commissioner Michael Copps interrupted his Columbus Day holiday to dub the broadcast "an abuse of the public trust." More ominously, Kerry adviser Chad Clanton told Fox News yesterday that "I think they (Sinclair) are going to regret doing this, and they better hope we don't win." ...It wasn't the intention of the Founders to give elected officials veto power over press reports.... The excuse for such broadcast...

The choice is vivid. The stakes are vast. Our nation is threatened by jihad warriors who scoff at boundaries. It stumbles toward a fiscal ruin that will punish our children. The rules that protect our air, water and health are weaker than we know. When 45 million of our neighbors fall ill, they have no insurance card to hand to the doctor. We boast of exporting liberty and rule of law, yet watch them erode at home. A hooded prisoner on a box has replaced a soaring lady with a lamp as the global icon of America's intentions. Our national...

EditorialSecond Thoughts By: William W. Lawrence 04/06/2004The Inquirer published a front-page photo of two of the murder victims of Iraqi terrorists. The photo of charred bodies hanging from a bridge behind a crowd of cheering Iraqis brought the left-leaning newspaper 185 telephone and e-mail complaints. At least seven persons canceled subscriptions.Inquirer managing editor Anne Gordon, who was communications director for the Colorado Democratic Party during Bill Clinton's 1992 presidential campaign, said that despite the reaction, "I would make the same call again." In an e-mail to the newsroom staff, she said: "We do our job when we give readers all...

Second Thoughts By: William W. Lawrence 12/02/2003Some folks accuse me of never saying nice things about Democrats. Well, just to prove them wrong will we tell you of our high regard for State Senator Connie Williams (D-17) who said she will donate to her local library systems all of the 2.4-percent pay raise our legislators are automatically to get Dec. 1.Way to go Connie, but that doesn't mean your national party is not intellectually and morally bankrupt.Except for, maybe, U.S. Sen. Zell Miller (D-Ga.) who recently wrote the best-selling "A National Party No More: The Conscience of a Conservative Democrat."...

Leave it to Jew Hater Extraordinaire, Tony Auth to determine that not STARVING a woman to death because she's inconvenient, is actually holding up The Lord's plans. Too bad Terri Schiavo isn't Jewish, then he could change the scene setting to Hell.        

Robert Hall, publisher of the Inquirer and Daily News is quitting next month. This came as a bit of a surprise because he recently gave his word that he would hang around 400 N. Broad St. until after upcoming labor negotiations are settled. Why did Hall, 58, give up what most journalists would consider a dream job? Delicious rumors are rampant. Pick one: * His health? * He was fired? * He finally got tired of parent company Knight Ridder's unrelenting pursuit of an unattainable profit margin? * He finally realized that continually endorsing perverts is wrong? * The Daily...

Second Thoughts By: William W. Lawrence 08/19/2003We are still keeping an open mind about Amanda Bennett, the Inquirer's new editor. We are not about to place big money on it, but the odds that she will guide the newspaper into a more fair and balanced path appear to be going south.She has hired Walter Cronkite to write left-wing commentary on the editorial page. Cronkite, who says he is registered as an "Independent," claims to be a fiscal conservative and a social liberal.Yeah, right. If you want all those liberal programs administered by highly paid political hacks, American taxpayers will have...

Editorial Second Thoughts By: William W. Lawrence 06/24/2003Walker Lundy wrote his retirement column, Sunday, expressing disappointment in the corruption he found in Philadelphia. So, Mr. Lundy, what has the Inquirer been doing about it? You ran the place for 18 months. You express shock that Philadelphia school officials can't figure out absentee rates yet you never crusaded to start a voucher program in the city. Why? Because your newspaper has been an arm of the deep-pocketed, left-wing teachers' union for decades. It still is. The Inquirer is simply part and parcel of the Democratic Party.For the same reason, you never...

2nd Thoughts By William Lawrence Be sure to fly Old Glory on Saturday. It's Flag Day. Much of the credit for it being a national holiday goes to William T. Kerr who was a Yeadon resident. He spent some 50 years campaigning for a national holiday for our Stars and Stripes. Let's make Delaware County all red, white and blue. *** Amanda Bennett, 50, the new executive editor of the Philadelphia Inquirer, is walking on air. She said, "I feel like somebody's just handed me the keys to a Maserati, and I'll be damned if somebody's going to take them...

Second Thoughts By William W. Lawrence 05/20/2003The Inquirer, last week, somewhat buried the story about Walker Lundy, the 60-year-old editor who walked out on them just after 17 months. The story was played in the "local news" section below the fold.Lundy was hired to "reinvigorate" the dying publication, but decided to smell roses instead.In his resignation letter, Lundy said he looks forward to retirement: "People tell me roses have an odor about them, and I want to see if that's true. Plus, I want to live on a lake and drive a boat fast. And read a million books. And...

Inquirer editor stuns colleagues by retiring In Philadelphia for 17 months, he says 'it's time' By WILLIAM BUNCH & CHRIS BRENNANIT WAS A story that a newsroom full of some of Philadelphia's most hardened, veteran journalists didn't see coming - even when Inquirer publisher Bob Hall called them to the city desk for a late-afternoon announcement.Walker Lundy, the 60-year-old Inquirer editor who'd arrived in town just 17 months ago with big plans for reinvigorating Philadelphia's largest newspaper, had decided to retire this summer.Hall said yesterday that Lundy's surprising move "was really more of a personal decision" and that tight fiscal...

The century-old Inquirer Sunday Magazine is very sick and will be pronounced dead in July. Inquirer

Inquirer ends its Sunday magazine By Reid Kanaley Inquirer Staff WriterThe Inquirer will end publication of its century-old Sunday magazine this summer in what the newspaper called a move to cut expenses in an advertising slump.The magazine will be replaced in mid-July by an eight-page full-size feature section carrying most of the magazine's standing columns, the restaurant and food reviews, and other stories. Television listings will move into a separate tabloid section."The sagging advertising economy is sagging even more. As a result, we are forced to end the Sunday magazine, effective in July," Walker Lundy, Inquirer editor and executive vice...

MSNBC is standing by Savage as some sponsors fleeBy Gail ShisterInquirer Columnist Despite national sponsors bailing, MSNBC says it's sticking with right-wing radio ranter Michael Savage. Procter & Gamble, Dell Computer Corp., Sharper Image, and three other national companies that sponsored Saturday's debut of Savage Nation have withdrawn from the show, MSNBC confirmed yesterday. The advertisers left because Savage's rhetoric doesn't meet their standards and commitment to diversity, according to statements from companies quoted on the Web site for the Gay & Lesbian Alliance Against Defamation (GLAAD). Still, the struggling cable network is "very comfortable" with Savage, "and we expect...

Second Thoughts By William W. Lawrence The failing Philadelphia Inquirer might be smart to transfer its whole operation to India where according to a Roper study, 79 percent of adults regularly read a newspaper. The study says the figure in the United Kingdom is 56 percent and down to a measly 42 percent in the United States. Maybe transferring to India would not be the right thing. Left-wing papers like the Inquirer just keep getting worse and would be a loser anywhere. The readership of the India journals will likely drop when an Indian Rush Limbaugh hits the airwaves there....

The Inquirer, which enthusiastically endorsed Ed (Fast Eddie) Rendell, has reported that the governor-elect obtained big money from his backers. The Inquirer said Fast Eddie appears to have more $100,000 contributors than all but two other office-seekers in America this year. At least 53 persons and organizations put money into Rendell's pot. Among the four highest donors were lawyers, labor union groups and the teachers' union. But don't worry, Eddie says (heh heh) there were no strings attached to the contributions.Heh heh, it even gets better. Rendell, a liberal Democrat, said Pennsylvania should enact contribution limits to erase the "appearance"...

I got a letter from an Aston subscriber who identified himself as a 68-year-old retired, life-long registered Republican and says I'm too hard on the Philadelphia Inquirer. He sent me the list of candidates endorsed by the Inquirer. It turns that 12 of 22 were Republicans. Now, my friend wants me to admit that I was wrong. I'm not. The endorsements mean nothing. Why not endorse a Curt Weldon when he's going to win anyway with two-thirds of the vote? I suspect they figure that Curt's been pretty much tamed, anyway. Tell you what though, Gerald -- may I call...

Powered by SAVE THIS | EMAIL THIS | Close OCTOBER 03, 2002 'Philly Inquirer' Battles Boycott By Jewish Groups And Takes Flak From Palestinian Activists TooBy Lauren WolkoffPHILADELPHIA -- The old piece of newsroom wisdom that measures a report's objectivity by whether both sides of an issue are complaining has done little to defuse criticism of The Philadelphia Inquirer, which has come under intense scrutiny by activists on both sides of the Israeli-Palestinian debate.To date, some 600 readers have dropped their subscriptions because of a boycott launched in July by a handful of area Jewish groups claiming the coverage is...