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.
And Buffett said Thursday he may buy more newspapers. “Any time
we can add properties we like, to management we like, at a price we
like, we're ready to go.”
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.