Phillycom 2 Philadelphia Newspapers Sold for 55 Million to Local Business Political Leaders

Written by Ron Jackson

Monday, 02 April 2012 19:49

The City of Brotherly Love was rocked by a major media deal today when the Philadelphia Media Network, publishers of Philly.com, the Philadelphia Inquirer and The Daily News was sold to a group of powerful local business and political leaders for $55 million. This comes just 2 years after the company had been purchased for $138 million! Read more: Phillycom 2 Philadelphia Newspapers Sold for 55 Million to Local Business Political Leaders