Richmond Times-Dispatch, Media General newspapers sold to Berkshire Hathaway subsidiary
VPA / May 16, 2012Media General Inc. today announced that it is selling 63 newspapers, including the Richmond Times-Dispatch, to Berkshire Hathaway Inc. for $142 million.
A subsidiary of Berkshire Hathaway, BH Media Group, will purchase 63 dailies and weekly titles in Virginia, North Carolina, South Carolina and Alabama, in addition to digital assets, including websites and mobile and tablet applications. The newspapers also have a substantial commercial printing business.
The Media General newspapers will be part of BH Media Group, along with the Omaha World-Herald Company newspapers. A sister company of the Omaha World-Herald Company, World Media Enterprises, Inc., will manage the Media General newspapers.
Read the full article at http://www2.timesdispatch.com/business/2012/may/17/4/richmond-times-dispatch-media-general-newspapers-s-ar-1921433/.