Berkshire Hathaway Unit Buying "The Roanoke Times"
Warren Buffett continues to plow some of his fortune into the newspaper business. The high-profile investor's Berkshire Hathaway is set to acquire another local daily, The Roanoke Times. The newspaper reported that Berkshire Hathaway unit BH Media Group will purchase it on Friday from privately held Landmark Media Enterprises. The price has not been disclosed.
Landmark has owned the 76,000-circulation daily paper since 1969.
Berkshire Hathaway will install one of its own, BH Media Group Vice President Terry Jamerson, as publisher of the newspaper. Jamerson currently serves in the same capacity at another BH Media Group property, the Lynchburg News and Advance.
The purchase is the latest in a long-string of local and regional newspaper acquisitions by Buffett's conglomerate. Earlier this month, it was announced that Berkshire Hathaway had bought 63 papers published by Media General. Like The Roanoke Times, these will be included in BH Media Group's portfolio.
The article Berkshire Hathaway Unit Buying "The Roanoke Times" originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.