Warren Buffett announced on November 30 that Berkshire Hathaway has purchased the publisher of the Omaha World-Herald newspaper, as well as several other newspapers in nearby Nebraska and Iowa. The purchase price was $150 million plus the assumption of $50 million in debt.
This purchase is consistent with Mr. Buffett’s predilection for both newspaper companies as well as local Omaha companies. Berkshire owns the Buffalo News, is the largest outside shareholder of the Washington Post Company, and has an investment in Gannett, the publisher of USA TODAY. In addition, two of Buffett’s previous acquisitions include Nebraska Furniture Mart and Borsheim’s Jewelry, both located in Omaha.