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Norcross Scores Majority Stake in Philly Media, Report Says

The Camden County Democratic power broker is still locked in a fight over control of the Inquirer, Daily News and Philly.com.

George Norcross now controls more than 50 percent of the parent company of the Philadelphia Inquirer and Daily News, according to a report.
George Norcross now controls more than 50 percent of the parent company of the Philadelphia Inquirer and Daily News, according to a report.

Camden County Democratic Party power broker George Norcross has scored a majority stake in the Philadelphia Inquirer, Daily News and Philly.com, buying out a partner in Philadelphia Media Network, the company that controls all three media properties, according to a report from Philadelphia Magazine.

Norcross, a Cherry Hill resident and head of insurance firm Conner Strong and Buckelew, previously owned a little more than a quarter of the company, but a buyout will give him a roughly 53-percent stake—but whether it'll be enough to stop a months-long fight over control over the company, which he shares with Lewis Katz, is yet to be seen.

Katz and Norcross are bound by a contract that gives them blocking rights, but have battled over editor Bill Marimow, who was fired in October and later reinstated by a judge.

Several lawsuits have been filed in the weeks since, with Norcross' buyout the latest in that saga.

Now, along with a handful of minority owners allied with him, Norcross controls roughly 58 percent of the shares in the company, Philadelphia Magazine reported.

Suzanne Cloud December 11, 2013 at 06:46 AM
The influence of George Norcross has helped to put the final nail in the coffin in what used to be a classy, top-of-the-line newspaper. Now it is little more than a rag...filled with ads and stories from the wires, little investigative reporting, lots of fluff and no substance. Breaks my heart. Another "victory" for political power Tsar - George Norcross, the worse thing to ever happen to NJ and the Democratic Party

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