By: E&P Staff
A new group ofinvestors has joined the bidding for the two Philadelphia dailies currently up for sale, a member of the group and other industry sources told The Philadelphia Inquirer for a story today.
The group includes local and national firms that specialize in media investments, and is “focused on Philadelphia, but potentially open to other papers,” Chris Harte, a former Knight Ridder executive who is part of the group, told the Inky’s Joseph DiStefano.
Harte declined to provide details of the bid or name other investors. He “served as an assistant to then Knight-Ridder President James K. Batten in the early 1980s, and was for three months an assistant to Knight Ridder’s current chairman P. Anthony Ridder. He was later publisher of Knight Ridder’s newspapers in State College, Pa. and Akron, Ohio. His career introduced him to many current Knight Ridder executives, including current Inquirer and Daily News publisher Joe Natoli,” DiStefano writes.
“He has spent the past decade as a private equity investor; his investments include papers in Maine, among other companies.”
Harte said the bidders would likely keep the Philadelphia Daily News open along with The Inquirer. “I love newspapers, and I’ve always loved The Inquirer,” Harte told the paper.