Perelman may back union bid for Philly newspapers

By Associated Press 3:30pm, April 16, 2014 - Updated 6:32pm, April 16, 2014
Philadelphia newspaper employees hope to bid in the latest sale of their company, with help from philanthropist Raymond Perelman.

Perelman has been interested in The Philadelphia Inquirer and Philadelphia Daily News for several years, and bid on them in 2010.

The company is up for sale because of a feud between rival owners George Norcross and Lewis Katz. They have each pledged minimum bids of $77 million at the planned auction.

Bill Ross, the executive director of the local Newspaper Guild, has confirmed Perelman's interest in court testimony in Delaware.

Chancery Court Judge Donald Parsons Jr. must decide whether the guild and other outside parties can bid, and what style auction to hold.

He will hear arguments on those issues when the hearing resumes on April 24.


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