Tuesday, September 02, 2014

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Austin

Buffett's Berkshire buys Waco Tribune-Herald

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Billionaire Warren Buffett's company, Berkshire Hathaway Inc., says it is buying another Texas newspaper, this one in Waco, the home of Baylor University.

Berkshire's newspaper division made the announcement Friday at a meeting with Waco Tribune-Herald employees.

The deal fits with Berkshire CEO Warren Buffett's stated interest in buying small and medium-sized newspapers in places with a strong sense of community.

The Tribune-Herald, with its daily circulation of 34,000 and 39,000 on Sundays, is one of many newspapers in which Buffett now has a stake. Berkshire recently acquired the Bryan-College Station Eagle, another Texas newspaper.

The Tribune-Herald is being sold by Robinson Media LLC, a Waco family business that bought it in 2009 from Atlanta-based Cox Enterprises. The purchase, for an undisclosed price, will close July 31.

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