Ed Rendell

Governor of Pennsylvania

"I'm a strong believer in local ownership – it is the best and most impactful thing for a newspaper to be owned by people who live in the region," Rendell said.

He said he is worried about the papers' workforce and its unions, and what the future will bring under new owners.

"I'm not sure hedge funds are the best solution for newspapers," the governor said. "In the end, the newspaper is nothing if not the people who work for it. If you take that away, you take away its soul."

Rendell also said he worried that the Daily News would be closed in the name of cost cutting.

"I am going to reach out to the new ownership and tell them they shouldn't be in this business if they are just looking to make the maximum amount of profit," Rendell said.

Michael Nutter

Mayor of Philadelphia

"Certainly it is my hope that after all the financial side of this is looked at and analyzed that real newspaper people, folks who value the quality of what the Daily News, the Inquirer and Philly.com have brought to this city and region," are consulted, Nutter said.

He called on the new owners to make decisions "based on great journalism and what it takes to run a great news enterprise as opposed to just the financial end and what the bean counters might care about."

The mayor also called on the lenders to preserve the Daily News. Some have speculated that the tabloid - which claimed a Pulitzer Prize two weeks ago - could be on the chopping block.

"Both of these papers have their own audiences, they have their own styles," Nutter said. "I guess you could say that a newspaper has a certain mood or attitude and it's good for people in the city and the region to get those different perspectives."

Arlen Specter

U.S. Senator from Pennsylvania

"Today, I'm reminded of Thomas Jefferson's saying: 'Were it left to me to decide whether we should have government without newspapers, or newspapers without government, I should not hesitate a moment to prefer the latter.' There is no doubt the Inquirer and Daily News will continue to produce quality journalism, but it is my hope that the new owners recognize the value of the staff and reporters who day-in and day-out provide an essential service to our country and region.

"I urge the lenders to maintain the papers' integrity by avoiding deep cuts and layoffs and to honor the papers' strong legacy of commitment to truth and journalism."

Bob Casey

U.S. Senator from Pennsylvania

"My first concern is for the employees of the Inquirer and Daily News. I hope that the lenders will put a high priority on treating these hard working men and women fairly and respectfully. The Inquirer and Daily News are institutions in Philadelphia and a vital part of the local economy. The papers and the employees have been through a lot. At the end of the day, I hope that the new owners value what the papers mean to the region and that there can be a return to stability and security."

Chaka Fattah

U.S. Representative from Philadelphia

"I applaud the valiant effort of Gerry Lenfest, David Haas, the Perelmans, Bill Graham and others as they joined with Brian Tierney to try and keep Philadelphia's two daily newspapers in local ownership and control.

"Congratulations and welcome to the new ownership group. You have a great opportunity, and an awesome responsibility. I extend the hope that you will make the investment necessary to continue the tradition of excellence that Philadelphians expect each day from the Inquirer and the Daily News.

"Changes are coming, but the auction winners should understand that they hold a public trust as well as a private corporation. The papers have played a critical role in the public discourse and vitality of our region. This role must be allowed to continue."

Bill Ross

Executive Director of The Newspaper Guild, which represents journalists, advertising and circulation staff

"We are excited to start working with the new owners over the next few weeks to start bargaining a new collective-bargaining agreement. I don't want our members to be afraid. We are optimistic to start rebuilding our great newspapers."

John Laigaie

President of Teamsters Local 628, which represents delivery-truck drivers

"Should employees be afraid? Based on what we've seen that they've done in Minnesota, yes. They've got to be ready to fight. ... It puts your back against the wall, and you've got to be ready to fight."

William A. Graham

Chief Executive Officer of Graham Co., a regional insurance broker, who lost his initial $31 million investment in the media company but agreed to join in the new effort

"It's very disappointing, and I'm sad," Graham said. "I didn't think the senior lenders would bid $80 million, let alone $135 million."

Graham said his contribution to Wednesday's final bid "was very, very small" compared with his original investment, but said he wanted to contribute because of the quality of the city's two newspapers and his respect for Tierney.

"I just don't have a ton of cash right now, because the economy's bad and business is bad," he said. "Even though I didn't do well financially, there's more to life than money."

Graham said he hoped the new owners would maintain a focus on quality journalism.

"I just want very much to have the Daily News and Inquirer to continue on as great papers," he said. "I thought that was really important."

Raymond Perelman

Philadelphia businessman and philanthropist, who with his son, Ron, was contributing $27 million, including a $10 million loan, to keep the newspapers locally owned

"I was disappointed. But it got to a point where it just didn't make sense, so we dropped out. We went much further than we'd thought we'd go."

David Haas

Philanthropist and chairman of the William Penn Foundation, who was part of the local coalition to buy the newspapers

"I think we tried our very best. I think the Perelmans were amazing. But I'm disappointed. I'm still soaking it up. I'm not really prepared to comment on the future of the newspapers."

H.F. "Gerry" Lenfest

President and CEO of the Lenfest group, who offered $10 million to help keep the newspapers in local hands

"The staff of the two newspapers are the newspapers, and I think as good businessmen, the new owners will continue the excellence of both newspapers."

Staff writers Jeff Gammage, Jeff Gelles, Patrick Kerkstra, Angela Couloumbis, Tom Infield and Tom Fitzgerald contributed to this article.