TRENTON – Following word last week that South Jersey’s George Norcross III is teaming up with former Penn. Gov. Ed Rendell to make a run at the for-sale Philadelphia Inquirer, another group of potential buyers emerged.
According to the Philadelphia Daily News, developer Bart Blatstein is heading another investment team examining a buyout of the Philadelphia Media Network (PMN), which includes the Inquirer and the Daily News.
Rendell’s team includes Norcross; businessman Lewis Katz; and Ed Snider, chairman of Comcast-Spectacor and owner of the Philadelphia Flyers; and others. The potentially well-connected ownership is already coming under scrutiny as Democrat-friendly and insider controlled.
Blatstein is himself a well-connected developer who oversaw Philly’s Northern Liberties resurgence with his Piazza at Schmidt’s, a re-purposed mixed-use old brewery site, as the centerpiece. Blatstein also bought PMN’s Broad and Callowhill headquarters last year, according to the DN story. His team includes Jerry Sweeney, president of Brandywine Realty Trust; Bill Harvey, partner at Klehr Harrison Harvey Branzburg; businessman Harold Honickman; and consumer rights attorney Andrew Barroway.
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