The Newspaper is in the News
The big news in today’s Philadelphia Inquirer is about its own ownership. Like so many others, the paper (the one I still get delivered daily to my front door) has been experiencing much uncertainty of late, with changes in ownership and losses of employee jobs and benefits, not to mention the ongoing struggles of newspapers everywhere to maintain readership and monetize digital.
According to the paper itself, this is its sixth ownership change in eight years. In a private auction held yesterday, the winners are local businessmen and philanthropists Lewis Katz and H.F. “Gerry” Lenfest. (If you live in Philadelphia, you have already become accustomed to seeing the Lenfest name on many notable local institutions). Katz and Lenfest were previously owners of 42.55% of the paper, and they notably feuded with co-owners the Norcross Group. Bill Marimow, who was ousted by Norcross but later reinstated by the court, is to be editor.
As quoted in the paper, Lenfest says: “We want to return the Inquirer to the great newspaper it has been for many years.” We the readers, and certainly the paper’s 1800+ employees, hope this will be the case. The paper has had several recent notable achievements, including a Pulitzer Prize won this year by architecture critic Inga Saffron for distinguished criticism, and breaking important local stories such as a recent to-do in a case involving the Pennsylvania Attorney General. Philadelphia is the country’s fifth largest city; we deserve to have a newspaper of which we can be proud.