Berkshire Hathaway Pays $142M For 63 Media General Papers

Law360, New York (May 17, 2012, 3:28 PM EDT) -- Warren Buffett's Berkshire Hathaway Inc. will fork over $142 million for 63 of Richmond, Va.-based Media General Inc.'s daily and weekly newspapers, redoubling the Nebraska company's media investments with publications including Media General's flagship Richmond Times-Dispatch, the companies said Thursday.

Separately, Berkshire Hathaway will provide Media General a $400 million term loan, set to mature in 2020, as well as a $45 million revolving credit line, the media company said. The loan allows the company to fully repay debt due in March of next year....
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