New CEO of group that won Philly newspapers at auction says he hopes to preserve jobs

New CEO of Philly papers hopes to preserve jobs

PHILADELPHIA — The new CEO of the group that won Philadelphia’s two major newspapers at auction says he hopes to preserve as many jobs as possible.

Greg Osberg said Friday that he plans to meet with employees on Monday and wants to hear other people’s ideas.

Osberg says he wants to grow and improve the newspapers and their Website, Philly.com, but that profit margins also aren’t where they need to be.

A group of creditors beat a group of Philadelphia-area philanthropists and won an auction Wednesday for The Philadelphia Inquirer and the Philadelphia Daily News.

Osberg says the sale is expected to close in late May and he hopes to complete contracts with the papers’ 14 unions by the end of June.