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Businessman Lewis Katz, left speaks at a news conference after a closed-door auction to buy the The Philadelphia Inquirer and Philadelphia Daily News Tuesday, May 27, 2014, in Philadelphia. Katz and philanthropist H.G. "Gerry" Lenfest are taking over Philadelphia's two largest newspapers with an $88 million auction bid. (AP Photo/Matt Rourke)

Businessman Lewis Katz, left speaks at a news conference after a closed-door auction to buy the The Philadelphia Inquirer and Philadelphia Daily News Tuesday, May 27, 2014, in Philadelphia. Katz and philanthropist H.G. "Gerry" Lenfest are taking over Philadelphia's two largest newspapers with an $88 million auction bid. (AP Photo/Matt Rourke)

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