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With Banks Circling, Philly Papers Seeks Cash Bidding

By Pete Brush (November 2, 2009, 3:59 PM EST) -- A bankruptcy judge has approved Philadelphia Newspapers LLC's disclosure statement, but the news chain — which owns the Philadelphia Inquirer, the Philadelphia Daily News and the Philly.com Web site — still faces a crucial appeal over whether bank creditors can bid for its assets based on credit they've already extended....

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