Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/owners-of-philadelphia-newspapers-struggle-to-reverse-declining-profits Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript In reporting second quarter earnings Thursday, a number of the nation's largest newspaper chains showed a decline in profits, circulation and ad revenue. Philadelphia newspaper owners are working to reverse recent misfortunes. Read the Full Transcript NEWSPAPER EMPLOYEE: You're fixing the sign when it comes off? That's good. NEWSPAPER EMPLOYEE: We've got to get you ready. JEFFREY BROWN: In Philadelphia, the new newspaper boss is Brian Tierney… BRIAN TIERNEY, CEO, Philadelphia Media Holdings: I'm Brian. Good to see you. JEFFREY BROWN: … head of a group of investors, Philadelphia Media Holdings, which has just bought the Inquirer and the Daily News, as well as the Philly.com Web site.Well-known locally as head of an advertising and public relations firm, Tierney now has an all-together different product to sell. BRIAN TIERNEY: And I really do believe, from the bottom of my heart, that the next great era of Philadelphia journalism begins today right here in this room. JEFFREY BROWN: The two newspapers he's buying are literally and figuratively upstairs-downstairs. The venerable Inquirer upstairs… INQUIRER REPORTER: One of the things we have to do is get some reaction from the governor's office. JEFFREY BROWN: … it's the third-oldest daily in the country and winner of 18 Pulitzers.The street-wise, 81-year-old, Daily News downstairs, known as "the people paper"… DAILY NEWS REPORTER: If somehow this northeast murder gets to be a really juicy story, we can hold this, right? JEFFREY BROWN: … loved locally for its coverage of crime, sports and politics. But like papers everywhere, both have struggled in recent years, with big drops in circulation and major newsroom layoffs, captured in some colorful gallows humor around the newsrooms.