[Photo by MICHAEL PENN]
DISTEFANO: The creditors hung on and bested the hometown investors because they believe we, the people who put together, distribute and sell the news, features and investigative reporting assembled daily under veteran Inquirer editor Bill Marimow and frugal Daily News boss Mark Frisby can make them more money than if they grabbed the best offer and ran. MORE
DEENEY: One component of the price is the company’s real estate, including its building at 400 N. Broad St. and its printing plant near Conshohocken, which was valued at $30 million. The new owners might ultimately decide to sell the real estate later to recoup more of the $318 million in debt that banks and other financial institutions were owed dude, this is a real estate deal primarily the new owners are betting on a rebound in the real estate market at which point they will convert the inky headquarters into condos. I think they’ll convert the printing press to condos, too, it’s in a pretty sweet spot on River Road in Conshohocken. MORE