Howe's Lawsuit Reveals Details of Montgomery Sale
By AAN Staff
december 3, 2001 02:27 pm
Art Howe claims in a lawsuit that his former partners at Montgomery Publishing Co., members of Philadelphia's prominent Rock family, owe him at least $2.5 million. That's what his lawsuit says is a conservative estimate of Howe's share of a sale of Montgomery, valued by investment bankers at $28.4 million, to Trenton-based Journal Register Co., the Philadelphia Business Journal reports. The lawsuit claims the Rock family -- who still own AAN-member Philadelphia City Paper -- drained the company of cash, eroding its value. Howe left Montgomery in 1999 and went to Village Voice Media as president.
