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Buffett buys news service

January 17, 2006

Renowned investor Warren Buffett has agreed to buy San Francisco's Business Wire at a price in the hundreds of millions of dollars, according to a source close to the deal.

Lorry Lokey, who founded Business Wire as a way for companies to disseminate their news releases in 1961, had been entertaining offers for the company for the past four years, the source said.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/01/17/BUGL8GOECF1.DTL&feed=rss.business

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