Business

Philadelphia Inquirer deal completed

PHILADELPHIA — A cable magnate has completed an $88 million deal to take over Philadelphia’s largest newspapers after a bitter court fight and the sudden death of his business partner.

H.F. ‘‘Gerry’’ Lenfest becomes the sole owner of the Philadelphia Inquirer, the Philadelphia Daily News, and Philly.com.

The 84-year-old Lenfest is overseas and has not returned messages this week.

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But outgoing owner George Norcross, the New Jersey Democratic powerbroker, confirms the sale was finalized.

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Lenfest and businessman Lewis Katz recently bid $88 million to buy out Norcross and other partners who bought the company in 2012.

Katz died in a plane crash at Hanscom Field in Bedford, Mass. His son, Drew, decided Monday to sell his $16 million stake to Lenfest.

The company has been sold six times in eight years.

Associated Press