Philadelphia Media Network

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Philadelphia Media Network, LLC
LLC
Industry Mass media
Founded 2010 (2010) in Philadelphia, Pennsylvania, U.S.
Headquarters Philadelphia, U.S.
Key people
Terrance C.Z. Egger (Publisher & CEO) H.F. Lenfest (former publisher)
Owner The Philadelphia Foundation
Website www.philly.com

Philadelphia Media Network LLC is an American media company. It owns The Philadelphia Inquirer, Philadelphia Daily News, and the newspapers' joint web portal Philly.com. The company is owned by The Philadelphia Foundation, a nonprofit organization in Philadelphia, Pennsylvania, U.S.A.

Philadelphia Media Network (PMN) was formed and initially owned by the creditors of Philadelphia Media Holdings (PMH), acquired out of Chapter 11 bankruptcy protection.[1] The company sold its inherited community newspaper division in December 2010. A group of local investors—under the corporate name of Interstate General Media LLC—bought the company for $55 million in April 2012. Publisher and chief executive officer Greg Osberg stepped down on 11 May 2012. He was replaced by Bob Hall, 67, the publisher of the Daily News and Inquirer from 1990 to 2003, when the papers were owned by Knight Ridder.[2] Philadelphia Media Network was purchased by Philadelphia businessman H. F. "Gerry" Lenfest in 2014.[3] Lenfest donated the company to The Philadelphia Foundation, a nonprofit organization, in 2016.[4][5]

References[edit]

  1. ^ Warner, Bob (June 22, 2010). "Newspapers' owners choose Philadelphia Media Network Inc. as company's new name". iStockAnalyst. Philadelphia Daily News. Archived from the original on June 25, 2010. Retrieved January 13, 2016. 
  2. ^ Gambacorta, David (14 May 2012). "Osberg out as PMN CEO, Hall in". Philadelphia Daily News. Retrieved 20 May 2012. 
  3. ^ Rieder, Rem (17 November 2014). "Rieder: Philanthropist determined to save Philly papers". USA Today. Retrieved 8 May 2015. 
  4. ^ Gamage, Jeff (January 12, 2016). "Lenfest donates newspapers, website to new media institute". philly.com. Philadelphia Media Network (Digital) LLC. Retrieved 2017-01-03. 
  5. ^ Dale, Maryclaire (January 12, 2016). "Philadelphia newspapers, website handed off to new nonprofit". Yahoo News. Associated Press. Retrieved January 13, 2016. 

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