Buffett Buys Landmark's News & Record
OMAHA, Neb. (AP) -- Warren Buffett’s Berkshire Hathaway Inc. is adding the Greensboro, N.C., News & Record to its growing newspaper division.
Berkshire Hathaway said Thursday that it bought the 122-year-old daily newspaper from Landmark Media Enterprises, based in Norfolk, Va.
Financial terms were not disclosed. The Omaha World-Herald, which oversees Berkshire’s newspaper division, reported that the News & Record has daily circulation of 58,000 and Sunday circulation of 86,000.
Terry Kroeger, who leads the newspaper unit, says the Greensboro newspaper will be a great fit with the other small and medium-sized community newspapers Berkshire has purchased.
Newspapers remain a relatively small part of Berkshire Hathaway, which owns an assortment of more than 80 subsidiaries and holds major stakes in companies like Coca-Cola Co., Wells Fargo and IBM.