Lenders, Perelman Enter Bids For Philly Papers
By Megan Stride ( September 22, 2010, 5:34 PM EDT) -- Philadelphia Newspapers LLC snagged two bids of at least $50 million for its upcoming bankruptcy auction just before a noon deadline Wednesday, fielding one proposal from Philadelphia philanthropist Raymond Perelman and another from a group of senior lenders that had backed out of a planned $139 million purchase of the struggling media company Sept. 14....
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