Lewis Katz, co-owner of The Inquirer, dies in plane crash
Published Sunday, June 1, 2014, 10:43 AM

Lewis Katz, 72, co-owner of The Philadelphia Inquirer, The Daily News and Philly.com, died Saturday night in the crash of a private jet at a Massachusetts airfield.

Katz's death was confirmed by Inquirer editor Bill Marimow, who said he learned the news Sunday morning from close associates.

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On Tuesday, Katz and H.F. "Gerry" Lenfest bought out their partners for $88 million, gaining control of the media company that owns the Inquirer.

"We all deeply mourn the loss of my true friend and fellow investor in ownership of The Philadelphia Inquirer, The Daily News and Philly.com," Lenfest said. "It is a severe loss, but I am pleased to announce that Drew Katz, Lewis's son, will replace his father on the board of our new company."

http://www.inquirer.com/about/20140602_Lewis_Katz__co-owner_of_The_Inquirer__dies_in_plane_crash.html

http://www.latimes.com/nation/nationnow/la-na-nn-massachusetts-plane-crash-lewis-katz-inquirer-20140601-story.html

Philadelphia Inquirer co-owner Lewis Katz among 7 dead in plane crash

By TINA SUSMAN
June 1, 2014, 9:13 am

The son of media executive Lewis Katz confirmed Sunday that his father, who had just acquired the Philadelphia Inquirer after a bitter feud with former partners, was among seven people killed in the fiery crash of a small jet.

“It is with an incomprehensible amount of grief and the heaviest of hearts that my sister and I announce the loss of our beloved dad,” Drew Katz said in a statement hours after the Gulfstream IV crashed while taking off from an airport in Bedford, Mass., about 20 miles from Boston.

Lewis Katz was 72. His successful acquisition of the Inquirer along with partner H.F. “Gerry” Lenfest last week came with vows to fund more in-depth and investigative reporting. The two gained full control of the Inquirer, along with the Philadelphia Daily News and Philly.com, with an $88 billion bid, following a long-running dispute with three former partners over which direction the news organization should take. This was the fifth time since 2006 that the news organization has been sold.

Katz had said afterward that he hoped to make the newspaper “fatter.” “It’s going to be an enormous undertaking,” Katz said of running the newspaper, whose rivals for control had pushed for more local news and less of the expensive investigative coverage that Katz and Lenfest favored.

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Matthew Brelis, a spokesman for the Massachusetts Port Authority, said the jet was taking off at about 9:40 p.m. and heading to Atlantic City, NJ. Brelis did not know how many of the seven on board were passengers and how many were crew. Nobody on board was identified other than Katz.

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http://articles.philly.com/2014-05-29/news/50152664_1_joseph-buckelew-katz-and-lenfest-marimow

Katz and Lenfest win Inquirer parent with $88M bid

By Jeremy Roebuck, David Sell, and Thomas Fitzgerald, Inquirer Staff Writers
POSTED: May 29, 2014

Inquirer co-owners Lewis Katz and H.F. "Gerry" Lenfest won a private auction for the newspaper and its parent company Tuesday, ending a fractious battle for control that prompted the business' sixth ownership change in eight years.

Their $88 million bid bested a group led by co-owner George E. Norcross III and was $27 million more than the partners spent two years ago to form Interstate General Media Holdings L.L.C.

Held at a Philadelphia law firm and closed to the media, the auction capped months of litigation between IGM's owners and turmoil for the company, which employs about 1,800 people at The Inquirer, Philadelphia Daily News, three websites, and a printing plant in Conshohocken.

It also comes as the news industry continues to battle declining revenue, decreased circulation, changes in reader habits, and struggles to profit from digital operations.

"We know more than anybody how difficult this business is," Katz told employees Tuesday afternoon at the company's Market Street headquarters. "We're going to give it our best. We're going to try to bring in the best. And, hopefully, we'll have a wonderful result."

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Each is among the most prominent businessmen and philanthropists in the region. Katz, 72, grew up in Camden and made millions in banks, billboards, and parking lots. His son, Drew, 42, chief executive of a Cherry Hill-based billboard company, is expected to play a role in the new venture.

Lenfest, 83, made about $1 billion when he sold his cable company to Comcast in 1999 and has spent recent years giving away his fortune to philanthropic causes.

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http://nypost.com/2014/06/18/lenfest-secures-sole-ownership-of-philadelphia-newspapers/

Lenfest secures sole ownership of Philadelphia newspapers

By Keith J. Kelly
June 18, 2014 | 6:07pm

Philanthropist and former cable-TV mogul H.F. “Gerry” Lenfest has hammered out a deal to become the sole owner of the parent company of the Philadelphia Inquirer, buying the stake held by the family of the late Lewis Katz.

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The Lenfest/Katz team won on May 14, agreeing to pay $88 million. But before the deal closed, Katz and six others perished in the plane crash near Boston, tossing the ownership into new turmoil. Initially, there were reports that Drew Katz would take over his father’s stake, but he decided against it.

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The media entrepreneur is now faced with the task of filling many of the key positions on the editorial and business sides. Lenfest took over as acting publisher after the resignation of Publisher Robert Hall, a Norcross ally.

Some newsroom observers are waiting for signs of that “bright future” proclaimed by the new owner. So far, the hiring of Brian Tierney as consultant has not been greeted favorable by staffers.

Tierney, a public-relations executive, bought the papers in 2006 and sold them in a bankruptcy auction three years later.

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http://www.philly.com/philly/business/20140619_Deal_seals_Lenfest_ownership_of_Inquirer_s_parent_company.html

Deal seals Lenfest ownership of Inquirer

CHRIS HEPP, INQUIRER STAFF WRITER
LAST UPDATED: Wednesday, June 18, 2014, 8:56 PM
POSTED: Wednesday, June 18, 2014, 11:36 AM

Now comes the hard part.

Philadelphia businessman and philanthropist H.F. "Gerry" Lenfest said he bought out his remaining partner in Interstate General Media on Wednesday, taking the helm alone as he tries to navigate a successful passage for the region's dominant news company.

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Lenfest, 84, said the media company would be placed under the umbrella of a legal entity that would outlast him.

Although he will remain the majority and controlling owner, Lenfest said, five others have agreed to invest $1 million each in the company.

He declined to identify all the investors until their participation was formalized. He acknowledged one was William A. Graham IV, chairman of the Graham Co., an insurance brokerage.

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