Announcement of sale of newspapers, website expected Monday: The sale of The Inquirer, Philadelphia Daily News, and Philly.com will likely be announced Monday, according to several sources.
A local investor group has spent much of the last two months negotiating to acquire PMN from its hedge-fund owners in a transaction valued at $55 million to $60 million, according to multiple reports. With paperwork still to be signed, delays are always possible at the 11th hour.
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