Former Pennsylvania Gov. Ed Rendell no longer leads an investment group hoping to buy Philadelphia's two largest newspapers.
Businessman and philanthropist H.F. "Gerry" Lenfest told The Philadelphia Inquirer that Rendell asked him to take over as chairman of the group bidding on the Inquirer and Philadelphia Daily News. The group includes former New Jersey Nets owner Lewis Katz, New Jersey Democratic power broker George E. Norcross III and Philadelphia philanthropist Raymond Perelman.
Rendell announced last month that he led a team hoping to buy Philadelphia Media Network. Rendell was not an equity partner. It wasn't clear Thursday if he is still involved. His spokeswoman said he could not comment.
Meanwhile, the newsrooms are in another round of buyouts and layoffs. Pulitzer Prize winning cartoonist Tony Auth is among those leaving.