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American Journalism Review
The Other Investors  | American Journalism Review
 AJR  Features
From AJR,   June/July 2006

The Other Investors   

By Rachel Smolkin

Related reading:
   » Life with Brian

The other investors in Philadelphia Media Holdings are Brian Tierney's longtime acquaintances, friends and former clients. They pledged about 30 percent of the $515 million sales price. Royal Bank of Scotland, owner of Citizens Bank of Pennsylvania, committed the rest. Tierney has not disclosed the size of each member's investment (the Inquirer has unearthed some details anyway), nor does he plan to publish profit margins of the privately held company. Besides Tierney and Bruce Toll, the investors include:

William A. Graham, IV

Chairman and CEO of the Graham Co., a commercial insurance broker

Michael Hagan

Chairman and CEO of NutriSystem (Tierney is a board member.)

Carpenters Pension and Annuity Fund of Philadelphia and Vicinity

Leslie A. Brun

Former chairman of Hamilton Lane, which helps pension plans manage their money, and chief executive of Sarr Group, a holding company

Katherine D. Crothall

Founder of Animas Corp., a West Chester, Pennsylvania, maker of medical equipment recently sold to Johnson & Johnson

Patricia Harron Imbesi

President of Patriarch Management, an investment company that focuses on commercial real estate and equity and debt investments, and a founder and partner in television properties and holdings

Eastern Technology Fund

Wayne, Pennsylvania-based venture capital firm

HJLR Associates

Holding company for Joseph Neubauer, chairman of Aramark Corp., which provides food services to schools, stadiums and other venues

Derby Media

A group of Tierney's friends and contemporaries from Episcopal Academy

Airlie Group, an investment firm



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