WILMINGTON, Del. (AP) — A politically-powerful investor in Philadelphia’s two largest newspapers pledged Monday to pay at least $77 million to wrest control of the company from rivals.
George Norcross, a wealthy insurance executive and influential New Jersey Democrat, testified before a Delaware judge overseeing the latest sale of The Philadelphia Inquirer and Philadelphia Daily News. The current owners, split into two warring factions, are selling the company at auction to regroup.
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