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Berkshire Buys Media General Newspapers for $142 Million

May 17, 2012 | About:
Dheeraj Grover

Dheeraj Grover

18 followers
Warren Buffett's Berkshire Hathaway (BRK.A)(BRK.B) agreed to buy newspapers owned by Media General Inc. (MEG) for $142 million in cash as it expands its publishing holdings.

Berkshire will also provide Media General a $400 million term loan and a $45 million revolving credit line, the Richmond, Va.-based newspaper company said today in a statement. The deal includes all of the company’s newspapers except for the Tampa group, according to the statement.

Berkshire is expanding in newspapers after purchasing Buffett’s hometown paper, the Omaha World-Herald Co., last year.

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About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

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