Lenfest Becomes Sole Owner Of Philly Newspapers

Uploaded by Mary Mackenzie on September 19, 2017 at 8:45 am

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A cable TV magnate completed an $88 million deal Wednesday to take over Philadelphia’s largest newspapers after a bitter court fight and the sudden death of his business partner. “Gerry” Lenfest became the sole owner of the troubled company that operates The Philadelphia Inquirer, the Philadelphia Daily News and Philly.com. The company has lost millions of dollars and hundreds of workers as it churned through six ownership groups in the past eight years.

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