Buffett's firm buys Greensboro, NC, newspaper

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by The Associated Press

WCNC.com

Posted on January 31, 2013 at 1:42 PM

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 it had acquired the 122-year-old daily newspaper from Landmark Media Enterprises, which is based in Norfolk, Va. 

Financial terms of the acquisition 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 investments in companies such as Coca-Cola Co., Wells Fargo and IBM. 
 

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