Investor Group’s Offer for PMN: $60 Million

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By: Mike Armstrong| Philly.com

A group of local investors reportedly has offered to pay $60 million to acquire the parent company of The Inquirer, the Philadelphia Daily News, and Philly.com.

Those investors, led by businessman Lewis Katz and insurance executive and New Jersey Democratic leader George E. Norcross III, are seeking to buy Philadelphia Media Network Inc. from a collection of hedge funds and financial investors that has owned the media company since October 2010.

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