Red Tettemer's Super Bowl ad for Century 21

Century 21 Super Bowl ad produced by Philly's Red Tettemer and Partners

New York Post: Philadelphia Media Network owners hire investment bankers, sales effort already underway

Tom Paine


The New York Post, following up on its breaking story about the possible sale of Philadelphia Media Network (owner of the Inquirer, Daily News and Philly.com) this past weekend, reported today that the ownership group has hired an investment banking firm, Evercore Partners, to seek out potential buyers.

The article cites sources as saying that the company has met with at least three interested parties already, and some offers are expected in the next two to four weeks. It also says that the family of Raymond Perelman, the 94-year-old Philadelphia businessman who tried to acquire the papers two years ago, is again interested in bidding.

The Post says that investment firm Angelo Gordon initiated the sales process and hoped Alden Capital would buy its 30% stake, but that Alden, which holds a similar stake, decided it wanted to sell as well.

No word from the investors or PMN on these latest reports, the Post says.

The reported price tag of $100 million, compared to the $139 million the buyout group paid to purchase the properties in late 2010, suggests that the turnaround has not been going too well, although they have profited by the sale of the old Inquirer building. See the column by former Inquirer exec Rick Edmonds in yesterday's Poynter for one perspective.

Update: The Inquirer reports that former Philly Mayor and PA Governor Ed Rendell is among those putting together a group to make a bid.

Daily Links 2/3/2012: Comcast may invest in Mets, more Thursday Night Football to NFL Network

Financial Relief for Mets May Come From TV Partners (New York Times)
Comcast may invest in Mets so they can better compete against Phillies.


NFL Network Ups Thursday Night Football Games to 13 for 2012 Season (Hollywood Reporter)
NBC Sports had been reported to have had a keen interest in adding those games for its cable network.

Verizon’s cable spectrum mashup: evil genius or simply genius? (Gigaom)

Dish Asks Regulators to Reject AT&T Call for Rapid Network Build (Bloomberg)

DirecTV Stops Selling WildBlue
May be Working With Dish/Hughes On New Option (Broadband Reports)

Take This Mitt, and Pass Me the Broadsword (New York Times)
Curt Schilling's expensive new video game close to debut.


Online retailers hoping Congress acts as PA delays enforcement of sales tax law (Delco Times)

Systems Management, Cloud Services Likely in Dell's Software Acquisition Plans (PC World)

SuccessFactors Announces Preliminary Fourth Quarter Fiscal 2011 Results (PR Newswire)

NetSuite looks to a bright 2012 (Dennis Howlett/ZDNet Blogs)

Newtown's EPAM Systems considered best of next week's IPO candidates (Dow Jones via NASDAQ.com)