Berkshire Hathaway sells media assets as newspapers are ‘toast’
The sale of the BH Media unit to Lee Enterprises will be financed by Berkshire Hathaway itself
29 January 2020 - 17:06
New York — Warren Buffett is getting out of the newspaper business.
Berkshire Hathaway has agreed to sell its BH Media unit and its 30 daily newspapers to Lee Enterprises, which owns papers, including the St Louis Post-Dispatch, for $140m in cash. Lee has been managing the papers for Buffett’s company since 2018, and Berkshire is loaning Lee the money for the purchase...
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