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From Editor & Publisher — who, really, do a great job at covering this kind of stuff — comes the news on the future owners of the Inquirer and Daily News:
A former high-powered Philadelphia advertising executive has received commitments “well in excess of $100 million” to buy The Philadelphia Inquirer and The Philadelphia Daily News in an ownership structure similar to the community-owned Green Bay Packers pro football team, he told E&P Wednesday.
Brian Tierney said he has lined up 20 “super-successful” Philadelphia businesspeople in an investment group ready to partner with others, including the Newspaper Guild, to buy the papers. The Inquirer and the tabloid Daily News were sold Monday by Knight Ridder to The McClatchy Co., which immediately announced they and 10 other papers were for sale.
In a telephone interview, Tierney said the group was committed to long-term ownership. “We’re looking at this as partly a good economic investment, and partly as good community involvement,” he said. “It would be a sort of Green Bay Packers kind of ownership.”
Tierney then said he’d be hiring a gunslinging CEO who would be hailed for playing the business world like a kid, yet throw four interceptions and cost his company the game.
Philly Locals Want Green Bay Packers-Style Ownership For 2 Papers [E&P]
Brett Favre [Packers.com]
Thanks Philly Edge
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