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Philly Inquirer, Daily News up for auction Tuesday

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'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

By The Associated Press
Tuesday, May 27, 2014, 7:27 a.m.
 

PHILADELPHIA — A closed-door auction is scheduled Tuesday to determine the future of Philadelphia's two largest newspapers

The Philadelphia Inquirer and Philadelphia Daily News are being sold for the fifth time since 2006.

Powerful businessmen George Norcross and Lewis Katz led the latest $55 million purchase in 2012.

But they began feuding over management issues and are now locked in a battle to buy each other out.

Both have pledged opening bids of $77 million, enough to repay their partners.

Norcross owns just over 50 percent of the company. Katz is bidding with investor H.F. “Gerry” Lenfest, a wealthy city philanthropist.

Norcross says he would steer coverage toward “hyper-local” news and sports.

Katz supports the investigative reporting favored by current Inquirer editor Bill Marimow.

The company also operates the Phily.com website.

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