The City of Brotherly Love was rocked by a major media deal today when the Philadelphia Media Network, publishers of Philly.com, the Philadelphia Inquirer and The Daily News was sold to a group of powerful local business and political leaders for $55 million. This comes just 2 years after the company had been purchased for $138 million!
New Jersey Nets owner Mikhail Prokhorov has filed paperwork with the NBA to change the team’s name when it decamps to Brooklyn in 2012. This doesn’t necessarily mean that Prokhorov will change the name the Daily News clarifies that changing the name is a long process that requires over two years of advance notice, so this may just be a placeholder in case Prokhorov decides he wants to change it …
See more here:
Nets Name Change Likely