Omaha, Neb.—Berkshire Hathaway has announced plans to acquire Omaha World-Herald Co., which publishes the World-Herald
and other daily and weekly newspapers in Nebraska and Iowa. The deal, which has reportedly been valued at $200 million, is expected to close next month.
delivers solid profits and is one of the best-run newspapers in America, and we are pleased to have Terry Kroeger [CEO of Omaha World-Herald Co.] and his team join Berkshire Hathaway,” said Warren Buffett, Berkshire Hathaway's CEO, in a statement.
The investment is a positive headline for the newspaper industry, which has endured 21 straight quarters of revenue declines, according to Newspaper Association of America figures.