Auction Bidders Vie for Ownership of Philadelphia Newspapers
by KYW's Steve Tawa
A high-stakes poker match was getting underway on Tuesday at a midtown Manhattan law firm: the auction of the Philadelphia Inquirer and Daily News.
The entire process was expected to take hours -- perhaps well into the evening -- to determine the owner of Philadelphia's two major daily newspapers. The three bidders were expected to make their offers, then retreat to private conference rooms, then return with counter-bids, eventually hoping to end up wtih the "highest and best" bid.
But don't look for "going, going, gone." As of 4pm, the actual bidding process had not yet begun.
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