In Philly newspaper spat, efforts to broker a deal
PHILADELPHIA (AP) — A judge says co-owners fighting over control of The Philadelphia Inquirer and Philadelphia Daily News are trying to broker a deal.
Common Pleas Judge Patricia McInerney said Wednesday that lawyers for George Norcross and Lewis Katz were holding talks. Norcross had been expected to testify in court but his side instead rested before the judge recessed the hearing so the two sides could negotiate.
Katz and co-owner H.F. "Gerry" Lenfest sued Norcross last month over the firing of veteran editor Bill Marimow, whom Katz supports. Norcross wants new leadership.
Both men invested $16 million apiece toward the $55 million purchase of the media properties in April 2012 and hold 26 percent stakes.