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Published: Thursday, 12/1/2011

Buffett’s firm to buy newspaper company


OMAHA — Warren Buffett said Wednesday that Berkshire Hathaway Inc. is buying the Omaha World-Herald Co. and expanding the firm’s newspaper holdings despite Mr. Buffett’s misgivings about the industry.

Terms of the deal, which is subject to approval by the newspaper’s employee owners and other shareholders, weren’t disclosed.

The deal also includes daily newspapers the World-Herald owns in Council Bluffs, Iowa, and Grand Island, York, Kearney, North Platte, and Scottsbluff, Neb. Berkshire owns the Buffalo News and it has a sizable investment in the Washington Post Co.

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