(Corrects name of commercial printer in paragraph 2 to Print
Innovators from Print Innovations)
Dec 31 The newspaper unit of Warren Buffett's
Berkshire Hathaway Inc on Thursday said it purchased
The Free Lance-Star, a newspaper in Fredericksburg, Virginia,
from Sandton Capital Partners.
BH Media Group did not disclose terms of the purchase, which
also included Print Innovators, a commercial printer that prints
the newspaper and other publications. Sandton acquired the
assets in bankruptcy in June 2014. BH Media's announcement was
posted on The Free Lance-Star's website.
The addition of The Free Lance-Star, which has a daily
circulation of 31,700, gives BH Media 32 daily newspapers
nationwide, including the Omaha World-Herald in Nebraska and the
Richmond Times-Dispatch in Virginia.
BH Media owns more than 70 newspapers and other titles, as
well as WPLG, an ABC-affiliated TV station in Miami, Florida.
In his March 2013 letter to Berkshire shareholders, Buffett
said newspaper industry profits are certain to decline, but that
papers that report local news well and have sensible Internet
strategies "will remain viable for a long time."
Berkshire is based in Omaha.
(Reporting by Jonathan Stempel in New York; Editing by Dan