South Jersey political power broker George Norcross III will serve as a managing partner of the group that has agreed to buy the Philadelphia Inquirer.
According to a report in the Inquirer the group headed by Norcross and Lewis Katz has agreed to buy the Philadelphia Media Network, which includes the Inky, the Philadelphia Daily News and Phill.com for $55 million.
The six new owners have agreed to sign a pledge – drafted by newsroom leaders – not to interfere with the editorial operations of the three media outlets.
That pledge will likely be a welcome addition to the deal for newsroom staffers, many of whom had publicly denounced the deal as an attempt to control coverage and silence criticism of Norcross and others in the ownership group. Norcross has dismissed those concerns and the group has said publicly its only intention in purchasing the group was to ensure continued media coverage of the region.