Showing posts with label Philadelphia Inquirer. Show all posts
Showing posts with label Philadelphia Inquirer. Show all posts

Sunday, August 9, 2009

What’s a Big City Without a Newspaper?


Bruce Gilden/Magnum, for The New York Times

LAST STAND? A newspaper kiosk on Broad Street.


By Michael Sokolove

The New York Times

On a recent trip into Philadelphia, after I exited the Interstate and coasted to a stop at the first traffic light, a man walked up to my car. He wore a black apron with a change pouch and held aloft a copy of The Philadelphia Daily News, the city’s tart, irreverent tabloid. It gave me a warm feeling. Of course it did! I’m a newspaper guy. I worked as a reporter for The Daily News in the 1980s, and later for what we called “big sister,” the sober, broadsheet Philadelphia Inquirer. Even in better times, I would have been happy to see the product being hawked, but these days any small sign of life in the newspaper industry, even just the sight of someone reading a paper, feels positively uplifting. I handed over 75 cents for my Daily News, then drove on toward the center of the city — and U.S. Bankruptcy Court, where a hearing was soon to begin, part of an ongoing process that will determine the fate of the city’s newspapers. [Click for MORE]

Sphere: Related Content

Sunday, February 22, 2009

Philly Newspaper Owner Files for Chapter 11

The owner of The Philadelphia Inquirer and Philadelphia Daily News filed for Chapter 11 bankruptcy protection Sunday in an effort to restructure its debt load.

Philadelphia Newspapers Inc., owned by Philadelphia Media Holdings LLC, is the second newspaper company in two days, and fourth in recent months, to seek bankruptcy protection.

"This restructuring is focused solely on our debt, not our operations," chief executive officer Brian P. Tierney said in a statement. "Our operations are sound and profitable."

The filing Sunday indicated the company has between $100 million and $500 million in assets and liabilities in the same range. The company said it will continue the normal operations of its newspapers, magazines and online businesses without interruption during the debt-restructuring process. [Click for MORE]


Sphere: Related Content