Berkshire Hathaway completes US$200M purchase of Omaha World-Herald, deal includes World-Herald newspaper and daily papers in Nebraska, Iowa
December 26, 2011
– Berkshire Hathaway Inc. has completed the purchase of Berkshire chairman Warren Buffett's hometown newspaper, the Omaha World-Herald.
The $200 million deal announced Nov. 30 included $50 million in debt. Under the agreement, Berkshire acquires the World-Herald and daily newspapers in Kearney, Grand Island, York, North Platte and Scottsbluff in Nebraska; the Council Bluffs Nonpareil in Iowa; a number of weekly newspapers; and World Marketing, a direct-mail company with operations in Omaha, Chicago, Dallas, Atlanta and Los Angeles.
World-Herald spokesman Joel Long said Monday that the deal closed Friday. He says World-Herald shareholders -- about 275 employees and retirees and the Peter Kiewit Foundation -- approved the sale by an overwhelming vote.
Buffett has said the World-Herald "delivers solid profits and is one of the best-run newspapers in America."
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