Philadelphia Inquirer, Philadelphia Daily News and Philly.com Sold at Auction

Philly Inky DN and dotcom logo
Inquirer, Daily News, Philly.com

Well guess what you can buy for a cool $88 million? Yep, two newspapers and a website in the nation's fifth largest market.  
And that's just what a group led by Lewis Katz and H.F. Gerry Lenfest did on Tuesday. They bid $88 million at a court ordered auction, and won control of the parent company of the Philadelphia Inquirer, Philadelphia Daily News and Philly.com.  

The entity's ownership has shifted five times since 2006. And with the ever changing generational, technology,and cultural shifts going on in today's marketplace this may not be the last sale. Internally there's a battle over whether the focus should be hyper-local journalism, investigative stories, or growing the site Philly.com (which some have described as a competing newsroom).

The media marketplace of today is littered with the carcasses of big city newspapers that couldn't adapt. Many of the fundamentals are not in place to stay relevant and profitable. 

So what do you think?

READ MORE AT bizjournals.com http://bit.ly/1jYCAWE

Philadelphia Inquirer, Philadelphia Daily News and Philly.com with an $88 million bid at an auction http://bit.ly/1jYCAWE

Norm Bond
NORM BOND shows people how to use digital marketing tools to find customers, grow sales and increase profits. And if you're not using digital tools he shows you how to do that too. He currently splits his time between Bangkok, Thailand and the U.S. He is available for consulting and speaking.
Norm Bond

@normbond

Consultant & global strategist. Marketing, social media, PR. Solution dealer. Crashes servers. Sells out events. Highly influential | https://t.co/tjspkz2TRH
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Norm Bond
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