PHILADELPHIA, June 11 (Reuters) - Philadelphia's two biggest newspapers were formally sold on Wednesday to a former cable television executive, capping months of power struggles and legal battles complicated by the recent death of one of the owners in an airplane crash.
The buyer was H.F. Lenfest, 84, who paid $88 million to buy out other co-owners of the Philadelphia Inquirer, the Daily News and their online site, Philly.com. at auction last month.
The sale marks the fifth time the Inquirer has changed hands in eight years, according to Philly.com.
Lenfest, who is known as Gerry, bought out three partners, led by New Jersey insurance executive George Norcross, who offered supportive words to the new owner.
"We have had the opportunity to work with Gerry over the last two years and are confident he will do all he can to make the papers and Philly.com strong, vibrant journalism outlets," they said in a statement.
Lenfest will be buying out the interest of another partner, Lewis Katz, who was killed in a crash near Boston on May 31, Philly.com reported.
Lenfest and Katz made the winning bid for the media company at last month's auction, but Katz died four days later. Katz' son, Drew, withdrew from the deal.
Lenfest built Suburban Cable Co., which he sold to Comcast in 2000 for $7.2 billion, Philly.com said.
Lenfest, Norcross, Katz and three other investors bought the Philadelphia media properties for $61 million in 2012.
Since then, they had a public falling out, largely between Katz and Norcross, Philly.com said.
Battles over editorial management of the Inquirer landed in court, and the auction of the media properties was ordered by a judge.
The head of the Newspaper Guild, which represents unionized journalists, advertising sales staff and customer service agents at the company, was critical of Lenfest on Wednesday.
Lenfest sent an email to employees after Katz's death detailing executive changes without mentioning him, said Bill Ross, executive director of the Newspaper Guild.
"My members and non-members were horrified by the callous insensitivity of that," Ross said.
A spokesman said Lenfest, who was traveling in Europe, would not be making a comment on Wednesday. (Additional reporting, writing by Ellen Wulfhorst; Editing by Jim Loney)
Support HuffPost
Our 2024 Coverage Needs You
Your Loyalty Means The World To Us
At HuffPost, we believe that everyone needs high-quality journalism, but we understand that not everyone can afford to pay for expensive news subscriptions. That is why we are committed to providing deeply reported, carefully fact-checked news that is freely accessible to everyone.
Whether you come to HuffPost for updates on the 2024 presidential race, hard-hitting investigations into critical issues facing our country today, or trending stories that make you laugh, we appreciate you. The truth is, news costs money to produce, and we are proud that we have never put our stories behind an expensive paywall.
Would you join us to help keep our stories free for all? Your contribution of as little as $2 will go a long way.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you’ll consider contributing to HuffPost once more.
Support HuffPostAlready contributed? Log in to hide these messages.