Staff at several Philadelphia newspapers is hoping the current feud will be resolved soon. CBS reports on Oct. 30 that there is an offer to buy out the Philadelphia Inquirer, Philly.com and Daily News. However, there are concerns that the offer will not be accepted.
George Norcross and William P. Hankowsky have offered $29 million to buy the Philadelphia publications. Some of the current owners are referring to this offer as a publicity stunt, and they do not seem to be taking it seriously. Lewis Katz turned it down officially, but he offered some hope by suggesting that an expert be found to help take control of Interstate General Media.
The feud among the owners of the Philadelphia Inquirer, Philly.com and Daily News has created concerns that all of these publications may be forced to shut down in the future. The majority owners of Interstate General Media are using George Norcross and William P. Hankowsky, two of the members, to buy out the other owners. Norcross and Hankowsky believe the current litigation involving the company will cost millions, and they want the feud to end.
Meanwhile, the Newspaper Guild union denies it supports one group of owners over the other and claims it is remaining neutral in the fight. However, the press release from George Norcross and William P. Hankowsky indicates they want to work with the union.