Inquirer's Owners Push Newspaper to Auction Block

By: Peg Brickley | Wall Street Journal

The Philadelphia Inquirer is being pushed back to the auction block by owners at odds over management of the newspaper operation and how to break the impasse at the top of the company.

New Jersey political power broker George Norcross III and ally Joseph Buckelew, who own 58% of the company that owns the Inquirer, Philadelphia Daily News and the associated digital news operation, have turned to a Delaware court for aid, saying they are countering a move by minority owner Lewis Katz, a parking lot and sports mogul, that "presents a real risk of another bankruptcy and additional job losses" for the publications.