Berkshire Hathaway, led by CEO and chairman Warren Buffett, has declared that they will purchase a number of small newspapers near Tulsa, Oklahoma, and add them to the growing group of over two dozen small and medium-sized local newspapers.
On Monday, Berkshire Hathaway Media Group said that it will purchase six weekly newspapers as well as the daily newspaper Tulsa Business and Legal News from Community Publishers Inc.
Terry Kroeger, CEO of Berkshire Hathaway Media, tells us that these newspapers will complement the existing publications that the company owns, including the Tulsa World.
The deals terms – including The Coweta American, The Owasso Reporter, The Sand Springs Leader, The Wagoner Tribune, the Skiatook Journal and The Broken Arrow Ledger – were not disclosed.
The newspaper division is relatively small in terms of the total of Berkshire Hathaway, and the company owns over 80 subsidiaries and has investments in IBM, Wells Fargo and Coca-Cola to name just a few.