Buffett's firm buys Greensboro, NC, newspaper

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Associated Press

Posted on January 31, 2013 at 11:02 AM

Updated Thursday, Jan 31 at 12:00 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 that it bought the 122-year-old daily newspaper from Landmark Media Enterprises, based in Norfolk, Va.

Financial terms 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 stakes in companies like Coca-Cola Co., Wells Fargo and IBM.

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