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Tierney Leaving Philadelphia Newspapers Next Week
Move Part Of Transition To New Ownership
PHILADELPHIA - The publisher of The Philadelphia Inquirer and Philadelphia Daily News is leaving as part of the transition to new ownership by company creditors.
A company statement says Brian Tierney will leave May 21 after four years as publisher and chief executive officer.
The former public relations executive and other local investors bought Philadelphia Newspapers in 2006 for $515 million, but filed for bankruptcy last year.
Tierney fought strenuously to retain local control at last month's bankruptcy auction. But creditors prevailed with a $139 million bid.
Joseph Bondi of Alvarez & Marsal has been named interim CEO until the upcoming closing. Creditors have named former Newsweek executive Greg Osberg their incoming publisher.