Philly papers donated to non-profit

The owner of The Inquirer, the Philadelphia Daily News, and Philly.com has donated the news organizations to a newly created media institute, the core of a complicated transaction designed to ensure that quality journalism endures in Philadelphia for generations.
The move places the region’s dominant news-gatherers under the auspices of the nonprofit Philadelphia Foundation.
“Of all the things I’ve done, this is the most important,” said H.F. “Gerry” Lenfest, sole owner of Philadelphia Media Network, which runs the newspapers and website. “Because of the journalism.”
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