Newsie
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|  | Connor eyes Philadelphia Inquirer:
« Thread Started on Sept 17, 2010, 6:34pm » | ![[Quote]](http://images.proboards.com/buttons/quote.gif "[Quote]") |
My source tells me that Rich Connor has been in active conversations for months and now being asked to step in to provide direction in Philly. Read the news, bids are due soon.
This dude is not slowing down 
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Cheech
Guest
| | Re: Connor eyes Philadelphia Inquirer:
« Reply #1 on Sept 18, 2010, 7:57am » | |
Your source must be high.
Connor is struggling to handle Portland (see Sept.11 front page disaster) and Wilkes-Barre is a mess (see CV takes #1 readership position away from TL for 1st time in 31 years).
Although, Philly is so FUBAR, Rich's "leap before you look (or think)" style will fit right in.
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Bob Q
Guest
| | Re: Connor eyes Philadelphia Inquirer:
« Reply #2 on Sept 20, 2010, 10:19am » | |
Ok, so Connor got torched in an NPR interview and got blasted by a column in the NY Times yesterday. As much as I fervently hope the little turd would just go away (And I laughed at the posts about whether Kevin Lynn had a contract or not: when I was let go from writing Tl editorials I was told third-hand), actually buying the Inky would explain why we haven't been blessed with his Sunday tirades all summer. Sale is this Thursday so I guess we'll know soon enough. Well, at least Philadelphia would be big enough for his ego, if you let it expand as far as Fishtown.
Posted on Sat, Sep. 18, 2010
Bidding rules set for newspapers' auction
By Christopher K. Hepp
Inquirer Staff Writer
Potential buyers of The Inquirer and the Philadelphia Daily News will need to offer at least $50 million and a 15 percent cash deposit - $7.5 million - if they want to bid at Thursday's auction of the papers' parent company, Philadelphia Newspapers L.L.C.
Those minimums were part of a package of bidding rules approved Friday by Chief Bankruptcy Judge Stephen Raslavich in anticipation of Philadelphia Newspapers' second trip to the auction block.
Among other rules of note:
All bids must be in cash. The company's lenders will not be able to use the $318 million in debt they are owed to buy the media firm, which also owns the website Philly.com.
Bidding will be conducted in $100,000 increments.
Not for sale is the company's headquarters at Broad and Callowhill Streets. That already has been pledged to the company's creditors.
The auction will take place in Raslavich's Center City courtroom and be open only to participants. The judge said at a hearing Thursday that the event could be too unruly if the media and the public were in attendance.
The auction is set to begin at 10 a.m. Thursday. There is a noon Wednesday deadline for submission of initial bids.
On Tuesday, Raslavich ordered a second auction after the prospective new owner of the company, Philadelphia Media Network, was unable to reach a contract with the drivers who deliver the newspapers.
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