Warren Buffett's expanded newspaper presence will test industry profitability The Winston-Salem Journal and 62 other Media General Inc. newspaper properties joined Thursday what analysts are calling a grand industry experiment. Buffett Rides to Media General's Rescue Warren Buffett is famous for exacting a high price while serving as a lender of last resort for companies needing immediate access to cash, and this mornings financing deal with Media General has many of the hallmarks of a classic Buffett arrangement. Media General sells 63 newspapers to Buffett in $142mn deal WASHINGTON - Media General has signed agreements with BH Media Group, a subsidiary of Warren Buffett's Berkshire Hathaway, for sale of all its 63 newspapers with the exception of the Tampa group, in a $142 million cash deal, the Richmond based media house said Thursday. Media General Scores Backing From Buffett It will receive a $400 million term loan and $45 million in revolving credit from Berkshire Hathaway... Media General Scores Backing From Buffet It will receive a $400 million term loan and $45 million in revolving credit from Berkshire Hathaway... Warren Buffett to buy Media General newspapers Warren Buffett's Berkshire Hathaway Inc is boosting its bet on the newspaper industry, with a deal to buy the majority of Media General Inc's papers for $142 million in cash, making him one of the largest ... Buffett's Berkshire to buy Media General papers Billionaire Warren Buffett's company is making another foray into newspapers, agreeing to buy 63 newspapers from Media General Inc. for $142 million.Berkshire Hathaway Inc. is also extending a loan to ... Media General To Sell Most Newspapers To Berkshire Unit For $142 Mln In Cash Media General To Sell Most Newspapers To Berkshire Unit For $142 Mln In Cash Media General to Sell Daily Progress & Others to Warren Buffett Company Media General Inc. says its newspapers, including Daily Progress and other Central VA newspapers, will be bought by Berkshire Hathaway, Inc. Richmond-Based Media General to Sell Nearly All Newspapers RICHMOND, Va. - Media General, Inc. (NYSE: MEG) today announced that it has signed agreements with B...
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Thursday, May 17, 2012
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