Warren Buffett bought his hometown newspaper on Wednesday. Not just one copy but the whole darn thing.
The billionaire investor's Berkshire Hathaway company announced that it has agreed to purchase the parent company of the Omaha World-Herald from its employee shareholders and the Peter Kiewit Foundation. According to the paper, the deal is expected to close in December, pending approval from the company’s shareholders.
In a statement, Buffett praised the paper as "one of the best-run newspapers in America" and stressed that its "editorial independence" will continue. The deal also includes other dailies owned by the Omaha World-Herald Company, including one in Iowa and a handful scattered throughout Nebraska. Berkshire already owns the Buffalo News and a sizeable chunk of the Washington Post.
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