Philadelphia Daily News is one of the prime newspapers of Philadelphia. Philadelphia Inquirer is a part of The Philadelphia Daily News and both these newspapers have been purchased in May 2006, by a group of local investors. The McClatchy Company was paid around $562 million for these two papers by the present owner of Philadelphia Daily News- Philadelphia Media Holdings L.L.C.
An estimated weekly readership of The Philadelphia Daily News publication is more than half a million readers. The daily circulation of the Daily News exceeded 200,000 eventually. It is a tabloid newspaper, first published ever since March 1925. The founding editor of this newspaper was Lee Ellmaker. Initially, the newspaper featured more articles on crime, sensational news and sports.
Eventually due to some problems circulation dropped drastically and the paper was sold to Matthew McCloskey. Later almost 90 percent of the workforce had to be reduced due to no improvement in the situation. After few years, McCloskey sold the paper to
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the publisher of The Philadelphia Inquirer - Walter Annenberg. He stopped the Daily News' Sunday edition and the tabloid was published as an afternoon paper. Annenberg finally sold both his papers to Knight Newspapers Inc. The Daily News became a morning publication once again and the journalists were awarded the Pulitzer Prize twice.
Knight Newspapers Inc sold the newspaper to the McClatchy Company and then to Philadelphia Media Holdings L.L.C. This group has brought about several schemes to strengthen the online presentation of both papers, and also start an extensive ad campaign of the print version. Philadelphia Daily News head office is at the North Broad Street of Philadelphia, Pennsylvania. The present structure of the news sections in Philadelphia Daily News comprises of political news, sports news, columns, opinion polls, local news, entertainment news, business, food, living and travel. After a lot of financial struggle, Philadelphia Daily News ranks as one of the top circulating news dailies in Philadelphia.
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