November 22, 2024

Business Briefing | Company News: Berkshire Completes Purchase of Omaha Newspaper

Berkshire Hathaway has completed its purchase of The Omaha World-Herald, the hometown newspaper of the company chairman, Warren E. Buffett. The deal, announced Nov. 30, for $150 million and the assumption of $50 million in debt, ended one of the newspaper industry’s last sizable employee ownership plans. A spokesman for the newspaper, Joel Long, said on Monday that the deal closed on Friday. When the deal was announced, Mr. Buffett said The World-Herald “delivers solid profits and is one of the best-run newspapers in America.”

Article source: http://feeds.nytimes.com/click.phdo?i=e02c11379be25c7b6b1cb21990f0f7e9