Philadelphia newspapers auction set for this morning

Philly.com
Three bidders — a group of Philadelphia investors; the senior lenders; and a long-shot candidate from Canada, Stern Partners Inc. — will bid to own the Inquirer, the Philadelphia Daily News, and Philly.com, and take the company out of bankruptcy. The lenders have a provision in their bid to fire the company’s workforce and require employees to reapply for their jobs. || Philly Daily News: All three investor groups bidding for the papers have put labor contingencies into their bidding proposals.

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