By: Press Release | BH Media
BH Media Group today announced that it will acquire the Tulsa World (OK) from the Lorton Family. The Tulsa World is a 95,000 daily and 133,000 circulation Sunday newspaper serving Tulsa County and the surrounding region.
The Tulsa World is the leading provider of local news and information for the Tulsa area. Tulsaworld.com is the largest and best read web site in Tulsa County and the surrounding area.
“The Tulsa World is a special newspaper in an outstanding market and we are honored to have the opportunity to own it,” said Terry Kroeger, CEO of BH Media Group. “This is a great fit for our company, and we look forward to continuing the longstanding tradition of outstanding journalism for this region. We welcome the Tulsa employees into the BH Media family and are delighted to have the opportunity to work with them.”
“The Lorton Family has been great to do business with as we have worked toward this ownership transition.” Kroeger said.
Robert E. Lorton Jr., Chairman of World Publishing Company, said, “Our family has been associated with the Tulsa World since my grandfather came to Tulsa in 1911. During these more than 100 years I believe there has been a symbiotic relationship between the World and Tulsa.Today the Lorton family passes along that community relationship to Berkshire Hathaway’s BH Media Group, a company with a strong commitment to local news and community engagement.”
“We see this is as a positive step for Tulsa and The Tulsa World. BH Media has the breadth and depth of commitment to support the dedicated employees of the World in the changing journalistic world in which we now live”, Lorton said.
“This sale will strengthen the role of the World in this marketplace and assures a secure future for a local Tulsa World newspaper and, important to the Lorton family, an exciting future for our employees.”
“Our family takes great pride in the Tulsa World and its many years of service to Tulsa and Oklahoma. The newspaper business has become a difficult business model within a changing society and in particular for local family owned newspapers. BH Media Group presents the best opportunity to continue a local paper that will serve this community, our friends and neighbors.”
The sale is expected to close in March. Terms of the transaction were not disclosed.
BH Media Group, headquarted in Omaha, is a wholly owned subsidiary of Berkshire Hathaway Company (NYSE: BRK.A and BRK.B). BH Media Group now owns 28 daily newspapers and related weekly newpapers in Nebraska, Iowa, Texas, Oklahoma, Virginia, North Carolina, South Carolina, Alabama and Florida.