DEJA VU: Inquirer/Daily News Up For Sale AGAIN?

INQUIRER: A minority shareholder of the parent company of The Inquirer and Philadelphia Daily News is looking to sell its 30 percent stake, according to a story in the New York Post Alden Global Capital, a New York hedge fund that holds interests in several newspapers, was one of 32 investors that acquired the two daily newspapers and for $139 million in October 2010. Now the owners of Philadelphia Media Network Inc. are “in the middle of an auction” to sell the company for roughly $100 million, according to the Post story, which cited a source close to the situation. The same unidentified source told the Post that “several suitors” were meeting with company management and those groups “would be asked to make binding offers in a few weeks.” […] Ken Doctor, media analyst for the Newsonomics website, said in an interview that acquisition activity has picked up in the newspaper industry recently. […] But what all have in common is that the prices for and valuations of newspaper properties are low. Real estate often accounts for nearly half of the value of newspaper companies.MORE

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