FILE - In this Saturday, May 1, 2010, file photo, Berkshire Hathaway Chairman and CEO Warren Buffett surveys a model railroad prior to participating in the annual shareholders meeting, in Omaha, Neb. Warren Buffett's company announced Wednesday, Dec. 26, 2012, that it has sold two short-line railroads it recently discovered it owned to satisfy regulators who might have reviewed Berkshire Hathaway's 2010 acquisition of the Burlington Northern Santa Fe railroad. (AP Photo/Nati Harnik, File)
Buffett's firm buys Greensboro, NC, newspaper
Published: 04:40:15 PM, Thu 31 January 2013 UTC
OMAHA, Neb. (AP) — Warren Buffett's Berkshire Hathaway Inc. is adding the Greensboro, N.C., News & Record to its growing newspaper division.
Berkshire Hathaway said Thursday it had acquired the 122-year-old daily newspaper from Landmark Media Enterprises, which is based in Norfolk, Va.
Financial terms of the acquisition were not disclosed. The Omaha World-Herald, which oversees Berkshire's newspaper division, reported that the News & Record has daily circulation of 58,000 and Sunday circulation of 86,000.
Terry Kroeger, who leads the newspaper unit, says the Greensboro newspaper will be a great fit with the other small and medium-sized community newspapers Berkshire has purchased.
Newspapers remain a relatively small part of Berkshire Hathaway, which owns an assortment of more than 80 subsidiaries and holds major investments in companies such as Coca-Cola Co., Wells Fargo and IBM.
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