Morning media roundup: Philadelphia layoff plans confirmed, TV reporter triggers censorship of student paper
Today in Philadelphia newspapering: The Daily News’ David Gambacorta snagged a letter of intent from a group of investors hoping to buy Philadelphia Media Network, confirming a WHYY report that management plans to cut 35 more jobs. That’s in addition to 45 layoffs and buyouts earlier this month. The letter also says that George Norcross and Lewis Katz now lead the group. Raymond Perelman is out. H.F. “Gerry” Lenfest doesn’t say whether he’s still in the Norcross-Katz group, but he does say he’s still interested in buying the papers.
“You would never adopt a family to rip it apart,” writes the Daily News’ Will Bunch of the planned cuts.
Update: “A source who has seen the letter of intent, dated March 20th and signed by local businessmen George Norcross and Lewis Katz, puts the purchase price at $60 million,” writes Steve Tawa. Read more