He was 72 and made his fortune building a parking business and investing in the Yankees Entertainment and Sports Network in New York. In addition to the Inquirer, he co-owned The Philadelphia Daily News and Philly.com.
His death comes less than a week after he and his business partner H.F. “Gerry” Lenfest bought out the Inquirer’s other co-owners for $88 million.
Katz (pictured above, far right) was among seven passengers flying on a private Gulfstream IV that burst into flame on Saturday night after taking off from Hanscom Field in Bedford, Massachusetts en route to Atlantic City, New Jersey, according to the Inquirer. There were no survivors.
The cause of the crash is reportedly still being investigated.
Inquirer editor Bill Marimow and a spokesman for the Massachusetts Port Authority did not immediately respond to a request for comment.
Katz maintained a financial interest in sports throughout his career, owning professional basketball’s New Jersey Nets and professional hockey’s New Jersey Devils at various points.