Report says Philly newspaper co. is again for sale

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PHILADELPHIA (AP) — A published report says Philadelphia’s two largest daily newspapers are up for sale again, less than a year and a half after creditors took them over.

The New York Post, citing an unidentified source, said Monday that Alden Global Capital, a distressed debt specialist, may pull out its 30 percent stake and that Philadelphia Media Network is conducting an auction to sell itself for about $100 million. The company operates The Philadelphia Inquirer, the Philadelphia Daily News and the Philly.com website.

Alden had been a lead player in the creditors’ $139 million takeover of the company in a September 2010 bankruptcy auction. The auction followed a bitter fight for control between creditors and local investors.

Bob Hall, the company’s chief operating officer, is declining comment to The Associated Press.