By:
February 10, 2012

Now that the current sale process is complete, the Philadelphia daily papers have their fifth owner in six years. Below is a detailed time line of events, with links to Poynter Online coverage on this sale and previous ownership transitions for the Philadelphia Inquirer, Daily News and Philly.com.

Locals buy papers

5/11/2012 Greg Osberg steps down as CEO of Philadelphia Media Network
4/16/2012 Beleaguered Philadelphia Inquirer newsroom hopes Pulitzer win signals a new beginning
4/5/2012 Bill Marimow will take new approach to old job as Philadelphia Inquirer editor
4/4/2012 New owners bring Bill Marimow back to The Philadelphia Inquirer
4/2/2012 Osberg remains CEO as local investors buy Philadelphia newspapers
3/27/2012 Philadelphia layoff plans confirmed
3/26/2012 Inquirer publishes investigation of possible future owner; report of more layoffs
3/16/2012 Sale of Philadelphia papers expected by month’s end, as 45 people leave newsroom
3/15/2012 Guild plans to fight layoffs of 19 Philadelphia journalists, after 21 take buyouts
3/8/2012 Inquirer: Rendell relinquishes lead in Philly papers purchase, as his group gets exclusive consideration
3/3/2012 Bids for Philadelphia papers are in, with Rendell, Perelman reportedly represented
2/20/2012 Ed Rendell says he’ll stop talking about Philly newspapers sale, as others speak out
2/20/2012 The nine lives of the Philadelphia Daily News (and why it’ll have a 10th)
2/17/2012 Journalists at Philly papers sign statement opposing “censored” coverage
2/17/2012 Inquirer, Daily News to share content, raising questions about future of separate Philly papers
2/15/2012 Sale of Philly papers will test whether local owners can stay out of the newsroom
2/14/2012 Philly papers to lose 37 positions through buyouts, layoffs
2/10/2012 Developer Bart Blatstein says he’ll create competitor to Philly papers
2/10/2012 Gov. Rendell wanted NY Mayor Bloomberg to buy Philly papers
2/9/2012 Raymond Perelman ‘dismayed’ he was ‘excluded’ from bidding on Philly papers
2/9/2012 WHYY: Philadelphia Media Network killed two stories about potential buyer of company
2/8/2012 Did first phase for Philly papers sale end last week?
2/8/2012 Spokesman Mark Block says he asked Philly.com to remove sale story from website
2/3/2012 NY Post: Majority of investors wants to sell Philadelphia Media Network
1/30/2012 NY Post: Philadelphia Inquirer, Daily News could be sold soon

Bankruptcy auction

4/29/2010 Winning bid for Philly papers was tens of millions more than most expected
4/28/2010 Politicians, media observers on the Philly newspapers sale
4/27/2010 Philadelphia newspapers auction set for this morning
4/26/2010 Burkle out, Perelmans in as bidders for Philly papers
4/24/2010 Burkle among those bidding for Philly newspapers
4/16/2010 Philly papers’ lenders told to produce taping incident documents
4/12/2010 Tierney: ‘Secretive’ hedge fund wants to control news in three cities
4/8/2010 Court rejects request to delay April 27 Philadelphia Newspapers auction
3/31/2010 Owner of Philly papers gets more time to repay loan
3/23/2010 ‘Credit bid’ ruling expected to boost interest in Philly papers
3/22/2010 Court rules against Philadelphia Newspapers creditors
2/22/2010 Bankruptcy case has cost Philadelphia Media Holdings $26M in past year
2/5/2010 Hedge-fund creditors win round in Philly newspapers bankruptcy case
1/29/2010 Canadian investment firm eyes Philadelphia dailies
11/18/2009 Philly newspapers postpone auction until court rules on credit bidding
11/11/2009 Philly newspapers’ creditors want auction postponed
11/10/2009 Judge bars credit bid in Philly newspapers auction
10/29/2009 Philly papers expect 20.6% revenue decline this year
10/28/2009 Philly papers’ senior lenders reject plan to settle debt
10/27/2009 Philly newspapers’ latest offer may not be enough to settle debt
10/21/2009 Investors allied with Tierney add $20M to their offer for Philly papers
10/20/2009 No progress in Philly newspapers contract talks
10/8/2009 Philly papers lose fight to bar lenders from using debt to bid on company
10/1/2009 Lessons to be gleaned from the Philly newspapers saga
9/28/2009 Pension Benefit Guaranty Corp. objects to Philly papers’ bankruptcy plan
9/25/2009 Philly union: Management’s proposals would gut our contract
9/16/2009 A Peek at the Private Equity Playbook for Running Newspapers
9/16/2009 Philly papers, creditors in accord on short-term financing
9/14/2009 Philanthropist says he’s a potential Philly newspapers investor
9/4/2009 Tierney’s crusade to rescue Philly papers faces deadline
9/3/2009 Philly papers’ creditors want “Keep it Local” campaign halted
8/30/2009 Philly papers, creditors announce a series of accords
8/28/2009 Philly papers, creditors try to resolve complicated interim financing plan
8/28/2009 Tierney Tries Twitter, Facebook, PR Campaign to Keep Philadelphia Papers


Bankruptcy reaction

8/20/2009 Philadelphia newspapers file reorganization plan
8/18/2009 Gov. Rendell to Bloomberg: Why don’t you buy Philly’s newspapers?
8/15/2009 Philly newspapers want lenders to wipe out $300M in debt
8/13/2009 Tierney doesn’t regret his Philly papers investment
8/13/2009 Philly guild accuses papers of bad faith bargaining
8/12/2009 Philly papers’ creditors want current management replaced
8/11/2009 Philly guild rejects papers’ request to extend its contract
8/7/2009 Sokolove: Philly’s a good place to observe what appears to be journalism’s last stand
8/6/2009 Philly newspapers want reorganization plan deadline extended
7/22/2009 Judge attacks Philly Inquirer as he hands out light sentence
7/9/2009 One Investment Firm Plays Role in 3 Biggest Newspaper Bankruptcies
7/1/2009 Judge tells Philly papers’ creditors to share info about secret recording
7/1/2009 Why the Bank May Soon Be Your New Newsroom Boss
6/29/2009 Philly papers say they’ve been frozen out of secret recording probe
6/9/2009 Bunch: Philly papers need to go in a radically new direction
6/2/2009 Philly papers to charge for web content by end of ’09
6/1/2009 Philadelphia Inquirer celebrates its 180th anniversary
4/24/2009 Tierney collected $1.175M in salary and bonuses in ’08
4/22/2009 Tierney: Antitrust laws need to be loosened for newspapers
4/14/2009 Philly papers’ creditors offered $50M to bring the company out of bankruptcy
4/11/2009 Philly papers’ senior lenders want “independent oversight” imposed on CEO Tierney
4/1/2009 Some Philly union bosses unfazed by newspaper execs’ bonuses
3/30/2009 Philly newspaper union blasts execs’ “shocking” bonuses
3/30/2009 Philly newspaper execs got bonuses just before bankruptcy filing
3/25/2009 Benefits, Drawbacks to Nonprofit Newspaper Bill & Government Help
3/3/2009 Filing hints that Philly newspaper execs were secretly recorded by creditors
2/25/2009 Philly cops rethink libel suit against Daily News after learning about bankruptcy filing
2/25/2009 I’ll never close Philly Daily News, says CEO Tierney
2/24/2009 Philly news execs will roll back their 2008 raises
2/24/2009 Builder Toll on Philly papers’ bankruptcy: “I’m upset to say the least”
2/23/2009 Tierney got raises after demanding cost concessions
2/23/2009 Mutter: Bankruptcy filing could deliver deathblow to Philly Daily News


Bankruptcy declared

2/23/2009 Philadelphia Inquirer and Daily News owner files for bankruptcy protection
2/5/2009 Philly columnist urges his publisher to charge for online content
2/4/2009 Beleaguered Newspaper Execs: Don’t Tread on Me
2/2/2009 Governor set up meeting to help Philly papers lessen debt burden
1/28/2009 “What’s really at stake for Brian Tierney in this newspaper deal is his legacy”
1/9/2009 What to Expect for Newspaper Companies in 2009
12/22/2008 Tierney: Readers say Philly’s papers are better under the new owners
12/9/2008 Philadephia papers to eliminate 35 jobs by Dec. 31
8/27/2008 Philly Newspaper Guild votes to postpone raises
8/25/2008 Philly papers target managers in new round of layoffs
8/20/2008 Philly newspapers had low 20% profit margins in early 2000s
7/3/2008 Philly Inquirer, Daily News may combine some newsroom jobs


It’s the debt, stupid

2/27/2008 Philadelphia Newspapers lays off 68 union employees
1/23/2008 Tierney to unions: Philly papers need to cut costs by 10%
1/18/2008 Report: Philly Inquirer, Daily News to raise newsstand price
10/12/2007 Tierney sees newspapers at $2.50 per copy in a decade
6/29/2007 Tierney upbeat about Philly papers a year after purchase
4/4/2007 Tierney predicts Philly papers will show circulation increases
3/23/2007 PMH’s Tierney aspires to be a corporate turnaround artist
1/24/2007 Inquirer boss: “We have a plan to turn this business around”
1/3/2007 Philadelphia Inquirer to lay off 17% of its editorial staff
1/2/2007 Several Inquirer reporters told their jobs are eliminated


Tierney, unions negotiate (part II)

12/22/2006 Philly newspaper worker suspended for anti-Tierney posters
12/19/2006 Newspaper Guild, pressmen at Philly papers ratify contract
12/14/2006 Philly journalists to vote Monday on “disappointing” contract
12/13/2006 Philly papers, Newspaper Guild reach tentative agreement
12/12/2006 Majority of Philly unions ratify contracts, Guild talks continue
12/8/2006 Philly papers CEO says he can “maximize” pension returns
12/7/2006 Strike threat “has never felt more real than this morning”
12/7/2006 Philadelphia Guild threatens strike after pension talks stall
12/4/2006 Philadelphia papers, Guild reach deal on non-economic issues
12/1/2006 Philadelphia unions blast guild for not agreeing to extension
12/1/2006 Philly papers boss reports “a great deal of progress” in talks
11/30/2006 Some Philadelphia unions agree to contract talks extension
11/30/2006 Philly talks might continue past Friday’s 12:01 a.m. deadline
11/29/2006 Philly Guild registers PhilaPapers.com in case of a strike
11/28/2006 Philly Journalists: Try a “Norg”
11/28/2006 Philly Guild to publish online newspaper if it goes on strike
11/16/2006 New PMH veep “has tremendous cost-management skills”
11/13/2006 Claim: Inky’s in a bind because KR refused to confront unions


Marimow becomes Inquirer editor

11/10/2006 Marimow: Inky can be the best newspaper its size in America
11/9/2006 Marimow warns Inquirer staff that “painful” cuts are coming
11/8/2006 It’ll be fascinating to see how Marimow, Tierney get along
11/8/2006 Marimow replaces Bennett as Philadelphia Inquirer editor


Tierney, unions negotiate (part I)

11/6/2006 Philly Inquirer editors told to prepare for 150 more layoffs
10/31/2006 Philadelphia Newspaper Guild agrees to contract extension
10/27/2006 Philly discovers local newspaper ownership isn’t a panacea
10/23/2006 Philly newspaper union’s radio ad blasts publisher Tierney
10/20/2006 “We are in a very difficult position,” says Philly publisher
10/19/2006 Philadelphia Newspapers, unions wrestling over key issues


Tierney becomes publisher

9/5/2006 Tierney takes publisher’s title at Philadelphia Media Holdings
8/1/2006 Publisher of Philadelphia papers quits to take U. of Miami job
7/26/2006 Publisher of Philly papers addresses rumors about HQ sale
7/19/2006 CEO of Philly papers is at his best when he’s under pressure
7/13/2006 Why won’t Philly papers’ new owners consult on editorials?
7/12/2006 Philadelphia Media Holdings, union to begin contract talks
7/5/2006 Tierney seeks chief creative officer for Philly newspapers


Tierney takes over

6/30/2006 New owners of Philly papers to spend $5M on ad campaign
6/28/2006 Tierney: Unlike the Inky, the Daily News knows what it is
6/21/2006 Philly papers’ new owners meet for first time, tour offices
6/6/2006 The Pledge: Philly Newspapers Bought by Local Big Shots
6/6/2006 Investors in Philly newspapers not looking for quick profit
5/30/2006 How Tierney and associates won the bidding for Philly papers
5/25/2006 Advice from a Reader to the New Boss in Town
5/24/2006 Bidders who floated plans for big cuts in Philly will try again
5/24/2006 New owners pledge not to interfere with the newsrooms
5/24/2006 Investors in Philly papers signed no-interference pledges


Tierney & associates buy papers

5/23/2006 McClatchy sells Inky, Daily News to Philly group for $562M
5/23/2006 Philly journalists hopeful new owners will keep both papers
5/23/2006 Deal to sell Philadelphia papers could be announced today
5/22/2006 McClatchy close to selling Philly papers to PR exec’s group
5/17/2006 McClatchy’s target price for Philly papers called ambitious
5/16/2006 Bids for Philadelphia newspapers due at 5 p.m. today
5/12/2006 Bidder for Philly papers floats plan for deep newsroom cuts
4/28/2006 Governor urges McClatchy to sell Philly papers to Yucaipa
4/27/2006 New York Daily News to take a look at Philly newspapers
4/25/2006 DiStefano: “It’s a little bit weird covering your own company”
4/24/2006 Canadian firms join list of potential bidders for Philly papers
4/17/2006 Knight Ridder reports sharply lower first-quarter earnings
4/12/2006 Russell: If one Philly paper has to go, make it the Inquirer
4/11/2006 Rival bidders for Philadelphia newspapers hire advisers
4/11/2006 PR man wants to make Philly Inquirer more fun to read
4/7/2006 New group joins the bidding for KR’s Philadelphia dailies
3/29/2006 McClatchy’s sale of 12 KR papers draws at least three bids
3/27/2006 Toll Bros. founder is “lead investor” in group eyeing Inky, DN
3/27/2006 What Philly residents would do if they owned the Inquirer
3/15/2006 Businessman wants to buy KR’s Philadelphia newspapers
3/15/2006 “Philly Daily News rocked my world like few other places”
3/15/2006 No constitutional promises of job security in the news biz
3/14/2006 Pennsylvania AG’s office seizes newspaper’s hard drives


McClatchy buys Knight Ridder newspapers, plans to sell Philadelphia papers

3/14/2006 Big Deal, Big Sequels
3/14/2006 Philadelphia Daily News staffers a little bit distracted, angry
3/13/2006 Read CEO Ridder’s FAQ, letter to Knight Ridder staffers
3/13/2006 McClatchy Details Plans for KR; Future Uncertain for Slow-Growth Dozen
3/13/2006 Successful bid represents a “remarkable triumph” for Pruitt
3/13/2006 McClatchy buys Knight Ridder, will sell 12 KR newspapers
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Julie Moos
Julie Moos (jmoos@poynter.org) has been Director of Poynter Online and Poynter Publications since 2009. Previously, she was Editor of Poynter Online (2007-2009) and Poynter Publications…
Julie Moos

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