Wednesday, April 28, 2010

Bidding under way for Philadelphia newspapers

Bidding began early this morning for ownership of the two Philadelphia daily newspapers. Bidding was supposed to begin last night but was delayed as parties worked out differences.

As of early this morning, two bids are considered too close to separate out. A third bidder, Stern Partners, a Vancouver, British Columbia company that owns two papers in Canada, appears to be sitting out the early bidding, but is allowed to enter the auction at any time.