Judge Orders Philadelphia Inquirer’s Ownership Dissolved, Sold by Auction
Posted: 4/28/2014  |  By: Andrew Beaujon | Poynter

Vice Chancellor Donald F. Parsons Friday ordered that Interstate General Media, the partnership that owns The Philadelphia Inquirer, the Philadelphia Daily News and Philly.com, be dissolved and sold by an “English-style” auction among partners.

“The minimum bid for the auction shall be set at $77 million in cash,” Parsons writes in his ruling, which you can read below. The auction can be held no later than May 28, he ordered.