The Philadelphia Daily News is a tabloid newspaper that serves Philadelphia, Pennsylvania, United States. The newspaper is owned by Interstate General Media which also owns Philadelphia's other major newspaper The Philadelphia Inquirer. The Daily News began publishing on March 31, 1925, under founding editor Lee Ellmaker. By 1930, the newspaper's circulation exceeded 200,000, but by the 1950s the news paper was losing money. In 1954, the newspaper was sold to Matthew McCloskey and then sold again in 1957 to publisher Walter Annenberg.