Buffett to Buy 63 Newspapers

Posted Thursday, May 17, 2012 7:15 am

By: Steve Jordon | Omaha World-Herald

Warren Buffett made good Thursday on his promise to buy more newspapers, agreeing to buy 63 daily and weekly newspapers in the Southeast for $142 million from financially troubled Media General Inc. of Richmond, Va.

The newspapers, in Virginia, North Carolina, South Carolina, Alabama and Florida, would be combined with the Omaha World-Herald Co. into a new Berkshire Hathaway Inc. division called BH Media Group. They would be managed by World Media Enterprises, a new sister company of The World-Herald.

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Buffett to Buy 63 Newspapers

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