Buffett Puts Weight Behind Omaha Newspaper Biz

Law360, New York (November 30, 2011, 3:05 PM EST) -- Warren Buffett's Berkshire Hathaway Inc. is buying the billionaire investor's hometown newspaper the Omaha World-Herald and six other dailies in Nebraska and southwest Iowa, he announced Wednesday.

Berkshire Hathaway struck a deal to buy the Omaha World-Herald Co., which in addition to the daily newspapers publishes several weeklies in the area. Terms of the deal weren't disclosed.

Buffett has long been a critic of the newspaper business, telling investors that he wouldn't buy most papers "at any price." He said newspapers were no longer essential to...
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