Wednesday, 27 May 2015
Last updated 5 hours ago
Oct 1 2010 | 11:40am ET
A federal bankruptcy judge has approved the sale of Philadelphia’s two daily newspapers to a group of their creditors, led by hedge fund Angelo Gordon & Co.
The new owners of Philadelphia Newspapers, which publishes the Philadelphia Inquirer, Philadelphia Daily News and philly.com Web site, hopes to close the $139 million sale by Oct. 8. Afterwards, the company’s main creditors, including Angelo Gordon and hedge fund Alden Global Capital, will have ownership stakes in the new owner, Philadelphia Media Network.
Also on Thursday, PMN worked out a deal with some of the newspapers’ unionized workers, the mailers. It still must strike a deal with the newspapers’ drivers, who helped scupper an early bankruptcy auction win by the Angelo Gordon-led group.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…