Berkshire Hathaway Buys Newspaper in Fredericksburg, Virginiaby
Berkshire Hathaway Inc. purchased a Virginia newspaper and printing facility as the company run by billionaire Warren Buffett adds to its roster of publications.
The purchase includes The Free Lance-Star and Print Innovators, both located in Fredericksburg, Berkshire’s BH Media Group said Thursday in an e-mailed statement. Terms of the deal with Sandton Capital Partners, which acquired the assets in bankruptcy in June 2014, weren’t disclosed.
The Free Lance-Star has a daily circulation of 31,700, according to the statement. Print Innovators prints the newspaper and other publications in the region.
Buffett, Berkshire’s chairman and chief executive officer, has long been fascinated by the news business. He delivered the Washington Post as a teenager and a paper he owned in Nebraska won a Pulitzer Prize in the 1970s. Today, his Omaha, Nebraska-based company has more than two dozen newspapers, with its largest presence in Virginia, where it owns the Richmond Times-Dispatch and Richmond.com.