Chicago real estate mogul Sam Zell dropped a hint in the New Yorker recently suggesting that he has received calls from individuals who want to buy, among other things, the Allentown Morning Call.
Zell was quoted in the New Yorker as saying: ”I’ve had offers on every single asset in the portfolio. Chuck Schumer”– the New York senator — ”calls me, because he’s hustling for some people who want to buy Newsday. Baltimore people are calling, Allentown’s calling, Florida’s calling, and, in L.A., David Geffen and Eli Broad.”
But Zell’s subtle hint raises a question about the fate of the Lehigh Valley’s largest daily newspaper. Could a group of local investors be interested in buying back the paper from a large conglomerate, similar to the group that now owns the Philadelphia Inquirer
[Continue reading Speculation About Sale]
Morning Call Managing Editor David Erdman is an alumnus of The University and a former editor of The Aquinas. He has visited campus recently for the semi-annual Communication Fair hosted by the department’s Students in Free Enterprise group.