Tags: Berkshire Hathaway | Newspapers

Berkshire Completes Deal to Buy Omaha World-Herald

Monday, 26 Dec 2011 11:43 AM

OMAHA, Neb. (AP) — Berkshire Hathaway Inc. has completed the purchase of Berkshire chairman Warren Buffett's hometown newspaper, the Omaha World-Herald.

The $200 million deal announced Nov. 30 included $50 million in debt. Under the agreement, Berkshire acquires the World-Herald and daily newspapers in Kearney, Grand Island, York, North Platte and Scottsbluff in Nebraska; the Council Bluffs Nonpareil in Iowa; a number of weekly newspapers; and World Marketing, a direct-mail company with operations in Omaha, Chicago, Dallas, Atlanta and Los Angeles.

World-Herald spokesman Joel Long said Monday that the deal closed Friday. He says World-Herald shareholders — about 275 employees and retirees and the Peter Kiewit Foundation — approved the sale by an overwhelming vote.

Buffett has said the World-Herald "delivers solid profits and is one of the best-run newspapers in America."

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