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Commercial News 11/4/2009 9:22:57 AM EST Owners fight credit bid in Philly newspaper sale
PHILADELPHIA – (AP) The owners of Philadelphia's two major dailies are waging a late-stage battle to keep the newspapers from creditors in a looming bankruptcy auction.
Under a key ruling in the case, senior lenders have the right to use the $300 million owed them to win The Philadelphia Inquirer and Philadelphia Daily News at the Nov. 18 auction. Full version (available to lexis.com subscribers) Create an account or login to post comments.
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