Philadelphia papers sold to lenders for $135 million

Philly.com
"We didn't make it," says Philadelphia Newspapers CEO Brian Tierney (left). "I think I'll go home tonight and sleep like a baby, which means I'll wake up every hour crying." The sale price was $70 million in cash, $40 million in debt, plus real estate. Tierney and his partners bought the papers in 2006 for $515 million. || How it came to this.

  • Jim Romenesko

    From 1999 to 2011, Jim Romenesko maintained the Romenesko page for the Poynter Institute, a Florida-based non-profit school for journalists. Poynter hired him in August of 1999, after seeing his MediaGossip.com, a hobby site he started in May of 1999.

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