Locals wage late-stage battle to keep Philadelphia Newspapers as bankruptcy auction looms

October 21st, 2009 Locals raise bid for Philadelphia papers to $87MPHILADELPHIA — A local group says it will raise its bid for The Philadelphia Inquirer and Philadelphia Daily News at auction by $20 million to about $87 million. The local group includes Toll Bros.

October 13th, 2009 Philly newspaper owners appeal credit-bid rulingPHILADELPHIA — The owners of The Philadelphia Inquirer and Philadelphia Daily News are appealing a bankruptcy court ruling that would likely give the company to creditors. A bankruptcy judge ruled last week that senior lenders can use the $300 million they're owed to bid on the company at a planned auction.

October 8th, 2009 Lenders can use debt to buy Philly newspapersPHILADELPHIA — Secured creditors of Philadelphia's major daily newspapers can use the $300 million debt they're owed to bid for the company in a bankruptcy auction, a judge ruled Thursday. The ruling could determine who takes over The Philadelphia Inquirer, Philadelphia Daily News and the Philly.com Web site.

September 21st, 2009 Philadelphia Newspapers gets $15M in debtor loansPHILADELPHIA — A key hearing on rules to govern the bankruptcy auction for Philadelphia Newspapers is on hold while negotiations continue. Senior lenders hope to win The Philadelphia Inquirer, Philadelphia Daily News and Philly.com with a "credit bid." That means they could use some of the $400 million owed them to bid.

September 15th, 2009 Key hearing on bids for Philly newspapers delayedPHILADELPHIA — A key bankruptcy issue that could determine the next owner of Philadelphia's two main daily newspapers won't be resolved Tuesday after all. Creditors hope to make a "credit bid" with money owed them to win The Philadelphia Inquirer and Philadelphia Daily News at next month's bankruptcy auction.

September 9th, 2009 Judge faults newspapers, creditors in ad disputePHILADELPHIA — Local investors hoping to win Philadelphia Newspapers at a bankruptcy auction should pay for the newspapers' "Keep It Local!" publicity campaign, a judge suggested Wednesday. At the same time, he called complaints about the ads from rival creditors "overheated," and said they could buy their own ads to hawk their bid for The Philadelphia Inquirer, the Philadelphia Daily News and Philly.com.

September 3rd, 2009 Philly papers fight lenders over 'local' ownershipPHILADELPHIA — The owners of Philadelphia's two major newspapers are trying to rally support for local management of the business — taking on banks and other creditors that hope to win the company in a bankruptcy auction. And the creditors are trying to get the campaign stopped.

September 3rd, 2009 Philly newspapers try to rally public supportPHILADELPHIA — The owners of Philadelphia's two daily newspapers are trying to rally support for local ownership as they fight creditors for control of the company. But creditors object to the "Keep It Local!" publicity blitz and want a bankruptcy judge to shut it down.

September 3rd, 2009 Philly papers seek local support against creditorsPHILADELPHIA — The owners of Philadelphia's two daily newspapers are trying to rally support for local ownership as they fight creditors for control of the company. But creditors object to the "Keep It Local!" publicity blitz and want a bankruptcy judge to shut it down.

August 28th, 2009 Philly newspaper creditors hire ex-publisherPHILADELPHIA — Creditors seeking to take control of Philadelphia Newspapers in a hard-fought Chapter 11 bankruptcy case have hired a former publisher of the two daily newspapers. The creditors say retired publisher Bob Hall would be part of the management team if they take over the company.

August 25th, 2009 Philly newspapers wage local-ownership campaignPHILADELPHIA — Investors in Philadelphia's two major newspapers are promoting the virtues of local ownership as they battle creditors for control of the company. The local owners — led by housing entrepreneur Bruce Toll and former public relations executive Brian Tierney — are trying to shed about $400 million in debt.

August 20th, 2009 Philly newspapers file debt-free bankruptcy planPHILADELPHIA — Philadelphia's two large daily newspapers hope to emerge from bankruptcy protection debt-free by paying creditors $67 million in cash and real estate to settle nearly $400 million in debt. Philadelphia Newspapers filed its reorganization plan Thursday, six months after filing for Chapter 11 bankruptcy.

August 11th, 2009 Philly newspapers hope $35M will end bankruptcyPHILADELPHIA — Philadelphia Newspapers hopes to use $35 million in new capital to settle nearly $400 million in debts and emerge from bankruptcy. A lawyer for the company says an opposing creditors' plan would leave the papers saddled with up to $85 million in debt.

June 16th, 2009 Philly Newspapers gets bankruptcy plan extensionPHILADELPHIA — A bankruptcy judge is giving Philadelphia Newspapers an additional 60 days to file a reorganization plan. Creditors owed nearly $400 million object to the extension.

April 30th, 2009 Will Comcast keep NFL Network? Deadline loomsPHILADELPHIA — Without a last-minute agreement, Thursday will be the last day for Comcast cable-TV customers to view the 24-hour NFL Network. Comcast and the National Football League are in a court battle over how the nation's largest cable provider carries the network.