Warren Buffett adds Texas daily to newspaper stable

Will buy the Bryan-College Station Eagle in Texas from the Evening Post Publishing Co for an undisclosed sum

Image
Reuters
Last Updated : Jan 24 2013 | 1:49 AM IST

Warren Buffett is expanding his newspaper empire, with the purchase of a small Texas daily.

Buffett's Berkshire Hathaway Inc has agreed to buy the Bryan-College Station Eagle in Texas from the Evening Post Publishing Co for an undisclosed sum, according to the Omaha World-Herald. The 123-year-old Eagle has a circulation of 20,000.

Buffett has been on a shopping spree of late, picking up most of Media General Inc's newspapers and investing in chains like Lee Enterprises Inc .

He stands out for his enthusiasm for small- and medium-sized community-based papers at a time when most investors and companies are heading for the exits.

Freedom Communications sold its remaining newspapers, including the Orange County Register, to a group lead by Massachusetts businessman Aaron Kushner.

The New York Times Co divested its the group of newspapers scattered throughout the U.S. Southeast and California earlier this year.

Also Read

Berkshire also owns the Buffalo News, the Omaha World-Herald Co and a stake in the Washington Post Co.

 

More From This Section

First Published: Jun 12 2012 | 10:29 PM IST

Next Story