PHILADELPHIA – A businessman says he expects the upcoming sale of The Philadelphia Inquirer to proceed despite the death of his partner in a plane crash.
Harold H.F. “Gerry” Lenfest says the $88 million deal will be delayed but will continue after the death of investing partner Lewis Katz.
Katz and Lenfest were to be equal partners in the purchase of the company that operates The Inquirer, the Philadelphia Daily News and the Philly.com website.
The deal was expected to close June 12.
Lenfest says the company will lose Katz’s expertise and creativity. But, he says, “the paper will continue because we both intended to put a new CEO in charge of the day-to-day operations.”
Katz and Lenfest were buying out a rival partner from their 2012 purchase of the company.