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Article: Private-equity investors join PNI bidding.(The Inquirer and Philadelphia Daily News)
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- April 8, 2006
- Author:
CopyrightCOPYRIGHT 2006 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Joseph N. DiStefano
Apr. 8--A group of private-equity investors has joined the bidding for The Inquirer and Philadelphia Daily News, a member of the group said yesterday.
Their addition brings to at least four the number of bidders with permission from McClatchy Co. to review financial records at The Inquirer and Daily News in preparation for final bidding on the papers.
The two papers are among 12 that McClatchy wants to arrange to sell before its scheduled takeover this summer of their current owner, Knight Ridder Inc.
Christopher Harte, a former Knight Ridder executive whose family is among the owners of San Antonio-based ...