- Associated Press - Wednesday, June 1, 2016

PHILADELPHIA (AP) - A cofounder of a venture capital firm has been named board chairman of the company that operates the Philadelphia Inquirer, the Philadelphia Daily News and their joint website, Philly.com.

Josh Kopelman succeeds philanthropist H.F. “Gerry” Lenfest as chair of Philadelphia Media Network.

Lenfest bought the media company two years ago. But late last year he donated it to a nonprofit journalism institute, which can accept outside donations and help underwrite Philadelphia Media’s operations.

The 45-year-old Kopelman joined Philadelphia Media’s board last year.

He is cofounder of First Round Capital, which since 2004 has invested in over 300 technology startups.

For five years he has been ranked in the top 20 of Forbes magazine’s “Midas List.” The list ranks the lead 100 tech investors.

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