Philadelphia newspaper owner donates publications to a nonprofit

The owner of The Inquirer, the Philadelphia Daily News, and Philly.com just gave up his newspapers and website in the name of journalism. The struggling outlets' sole owner, H.F. "Gerry" Lenfest, announced Monday night that he has donated his three news organizations to a newly formed media nonprofit, the Institute for Journalism in New Media, in the hopes of preserving quality journalism in the Philadelphia area for years to come.

"I have thought more and more about what the city would do without the Inquirer and the Daily News, so it became a quest to find a structure that would ensure the permanence of journalism in Philadelphia," Lenfest, 84, said. "This is the best solution." Lenfest won control of the news organizations' parent company, Philadelphia Media Network, just two years ago in May 2014 when it was up for auction. This followed multiple changes of ownership, bankruptcy, and layoffs at the publications.

Lenfest also gave the institute $20 million. "Of all the things I've done, this is the most important," Lenfest said. "Because of the journalism."

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