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Philanthropist H.G. "Gerry" Lenfest speak 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. Lenfest and businessman Lewis Katz are taking over Philadelphia's two largest newspapers with an $88 million auction bid. (AP Photo/Matt Rourke)

Philanthropist H.G. "Gerry" Lenfest speak 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. Lenfest and businessman Lewis Katz are taking over Philadelphia's two largest newspapers with an $88 million auction bid. (AP Photo/Matt Rourke)

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