The Times says that three bidders stuck up their hands to get the Philadelphia Inquirer and Daily News: NY Daily News owner and apparente masochist Mort Zuckerman, efficient newspaper mogul Dean Singleton, and local building and PR moguls. The story says that McClatchy, the seller, is likely to get $600,000 or less in the sale. Typo? Probably not. When Tribune Company sold the NY Daily News to Robert Maxwell (for whom I ended up working… remind me to tell you my Maxwell stories over beer) they paid him $60 million to take the thing off their hands because the shutdown liability was even greater. And some say that blogs have bad economics. I can name a few that would sell for more than $600K.
UPDATE AND APPARENT CORRECTION: Well, the Inquirer says $600 million. The truth lies between the two….