Bart Blatstein to Start New Paper in Philadelphia?

What do you do when the big boys won’t let you play in their games? You start your own. Bart Blatstein—upset that he and his team of investors has been excluded from the bid to purchase the Philadelphia Media Network—is threatening to start his own paper in Philadelphia and he’s got the resources to do it. [Philly.com]

UPDATE: Blatstein’s group Philly Hometown Media issued a press release detailing their intentions today. They also managed to name-drop Ron Perelman for good measure. The full press release is available at Philebrity.