Lewis Katz, the Philadelphia Inquirer newspaper’s new co-owner, and one-time owner of the NJ Nets (with Jay-Z) and NJ Devils, died in a plane crash that killed seven people.
Katz had just taken control of the Philadelphia Inquirer a scant four days ago, and after pledging to move the media organ toward more serious journalism. Lewis Katz was 72, and called ‘one of the best in the business.’
Plane Crashed At Hanscom Field
The private plane that took the lives of seven people was a Gulfstream IV, and went down in what was described as a “fireball” after takeoff, where it was bound for Atlantic City International Airport in New Jersey according to Philly.com.
Katz Bought Philly.com With H.F. “Gerry” Lenfest
Lewis Katz bought the Philadelphia Inquirer with H.F. “Gerry” Lenfest, for $88 million.
“We all deeply mourn the loss of my true friend and fellow investor in ownership of The Philadelphia Inquirer, The Daily News and Philly.com,” Lenfest said. “It is a severe loss, but I am pleased to announce that Drew Katz, Lewis’s son, will replace his father on the board of our new company.”
Lewis Katz Sold New Jersey Nets To Jay-Z
Lewis Katz counted Jay-Z as one of his friends, and owned what was the NJ Nets and became The Brooklyn Nets with him.
Lewis Katz Business Background
Businessweek.com posted Mr. Katz business background:
Mr. Lewis Katz serves as the Chief Executive Officer of CLAMOUR LLC. He is Investment Professional at Gabriel Investments. Mr. Katz also Co-Managing Partner of the Philadelphia Media Network. He serves as Owner and Chairman of the New Jersey Nets. He serves as Counsel of Katz, Ettin, Levine, Kurzweil, Weber & Scialaeba, P.A. He was Principal Owner of the New Jersey Nets and New Jersey Devils. Mr. Katz served as Chief Executive Officer of Kinney System Holding Corp. from November 1990 to February 1998. He served as Chief Executive Officer of Kinney System Holding Corp. since November 1990 until February 1998. From 1972 to 1997, he served as a Partner in the law firm of Katz, Ettin, Levine, Kurzweil, Weber & Scialaeba, P.A., Cherry Hill, New Jersey, which has performed legal services for Orleans Homebuilders Inc. in the past year. He was owner of Kinney Parking Systems and the former chairman of Interstate Outdoor Advertising. He serves as Trustee of Temple University. He has been a Director of Central Parking Corporation. since 1998. He has been a Director of Orleans Homebuilders, Inc. since 1987. He serves as a Director of ThinkEco, Inc. He serves as Member of Board of Governors at Boys & Girls Clubs of America, Inc. He serves as a member of the Board of Governors of the National Basketball Association, (11/98-4/10). He was member of the Board of Trustees at the Dickinson School of Law, where he graduated first in his class. He serves as Director of the Katz Foundation. He has established an annual prize and endowed a visiting professorship in cardiovascular research at Columbia University, where he serves on the Board of Visitors of the medical school. His $15 million gift to The Dickinson School of Law at Pennsylvania State University helped fund a law school building that bears his name. He graduated from The Dickinson School of Law at Pennsylvania State University.
Stay tuned.