Last Philadelphian Who Reads Newspapers Wants To Buy Them

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There are only two kinds of people in the world who think newspapers are a good investment right now: multimillionaires looking for a vanity project/to tamp down on criticism of their stewardship of local sports franchises, and 96-year-olds. Raymond Perelman, this girl's grandfather, happens to be both.

Raymond Perelman, the multimillionaire businessman and philanthropist whose name adorns schools and cultural institutions across the region, said Friday that he again wanted to buy The Inquirer and its parent company….

"I'd like to buy them all out, but I don't think all of them will sell," Perelman said. He added that it would be a cash deal.

No investor would lose money, Perelman said, but he declined to say how high a price he would pay.

Perelman offers to buy Inquirer [said Inquirer]

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