Lewis Katz and H.F. "Gerry" Lenfest, minority co-owners of the Philadelphia Inquirer, increased their shares of the company, from 42 to 100 percent in one morning after a private auction. The results of the auction decided the fate of Philadelphia's largest newspaper after nearly a year of owner in-fighting.

Katz and Lenfest topped the majority owners, George Norcross, William Hankowsky and Joseph Buckelew with a bid of$88 million, buying up the rest of the shares as well as millions in dept.

The Inquirer's parent company includes the Philadelphia Daily News, both papers' websites and printers, as well as philly.com.