Drew Katz to sell his shares in Inquirer’s parent company
By Chris Hepp and Bob Moran, The Philadelphia Inquirer | |
McClatchy-Tribune Information Services |
"Because of the turmoil of the last 10 days, I have made the decision it would be in the best interests of The Inquirer, the
Katz said the sale was yet to be consummated. He offered no other details.
Reached by telephone in
A sale would leave Lenfest as the sole majority owner of
Katz and Lenfest bought IGM from a group of their former partners led by
The closing of the IGM sale was to be Wednesday. It could not be determined if it would proceed as scheduled.
The
The website reported that Lenfest, among other things, did not call
"I would also like to emphasize that despite public reports to the contrary,
Katz added: "I believe strongly that the organization would be in excellent hands under the ownership of
Katz, 42, a
After the auction,
On Tuesday,
Graham, who described himself as a close friend of the elder Katz, said he planned to honor his pledge to Katz and had already contributed the
When
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