Mr. Norcross, a businessman and Democratic power broker in New Jersey, had been accused of installing his daughter as the head of Philly.com and of influencing the dismissal of The Inquirer’s editor, William K. Marimow. He has denied any inappropriate behavior.

A court ruled in April that the papers should be sold only to one of the current owners. At the time, it was seen as a victory for Mr. Norcross, but he and Mr. Hankowsky and Mr. Buckelew declined to bid.

In a statement, they said that, though they stepped away, they were happy the issue was resolved. “It is time to return the company’s focus to journalism, and away from conflict among its owners,” the statement said.

Mr. Marimow, previously reinstated by a court, said he was pleased. “I also think that there’s really a lot of hard work to be done in the months ahead,” he said. “My view is that when you do excellent journalism, it leads to a profitable business.”

When asked whether he would keep his job, Mr. Marimow said he had not spoken to the buyers on the topic, but pointed to comments they had made in support of his continuing. “It’s my hope that I’ll remain editor,” he said.