Group Agrees to Buy Inquirer Parent Company for $55 Million

The parameters of the deal to shift ownership of Philadelphia Media Network to the group of investors led by George Norcross III, Lewis Katz and Gerry Lenfest have been announced. For $55 million and $10 million in additional capital, the group will be the fourth set of owners the Inquirer, Daily News and have had in the past six years. The group has indicated that PMN management will remain, including publisher Gregory J. Osberg. [Inquirer]