Warren Buffett buys Press of Atlantic City - FOX 35 News Orlando

Warren Buffett buys Press of Atlantic City

Posted: Updated:

OMAHA, Neb. (AP) -- Warren Buffett's Berkshire Hathaway Inc. is adding the Press of Atlantic City, N.J., to its collection of more than two dozen small and medium-sized newspapers.
 
Berkshire said Thursday that it's buying the Press from Abarta, which is a private Pittsburgh firm held by the Taylor and Bitzer families.
 
The Press will be Berkshire's 31st daily newspaper. It has a daily circulation of 67,000 and a Sunday circulation of 77,000 in southern New Jersey.
 
Financial terms of the deal were not disclosed.
 
Buffett has said he believes smaller papers like the ones Berkshire is buying will fare OK because they remain the primary source of information about their communities.
 
But Buffett says the newspapers will do little to help Berkshire's profits because they are relatively small compared to the total conglomerate.

  • New Jersey NewsNew Jersey NewsMore>>

  • Tornado kills N.J. couple in Va. campground

    Tornado kills N.J. couple in Va. campground

    Thursday, July 24 2014 5:06 PM EDT2014-07-24 21:06:16 GMT
    Virginia State Police photoVirginia State Police photo
    A New Jersey couple was killed after a tornado caused a tree to fall on their tent at a popular campground, according to Virginia State Police. Lord Balatbat and Lolabeth Ortega, of Jersey City, were killed Thursday morning as a fierce storm ripped through the campground, police spokeswoman Corinne Geller said.
    A New Jersey couple was killed after a tornado caused a tree to fall on their tent at a popular campground, according to Virginia State Police. Lord Balatbat and Lolabeth Ortega, of Jersey City, were killed Thursday morning as a fierce storm ripped through the campground, police spokeswoman Corinne Geller said.
  • Proposed Quick Chek becoming hot topic for West Orange neighborhood

    Proposed Quick Chek becoming hot topic for West Orange neighborhood

    Thursday, July 24 2014 1:06 PM EDT2014-07-24 17:06:22 GMT
    New Jersey NewsNew Jersey News
    In recent weeks, the St. Cloud neighborhood in West Orange has seen a groundswell of opposition to a proposal by Quick Chek to replace the vacant restaurant at 555 Northfield Ave. 
    In recent weeks, the St. Cloud neighborhood in West Orange has seen a groundswell of opposition to a proposal by Quick Chek to replace the vacant restaurant at 555 Northfield Ave. 
  • State ends hunt for snake in Lake Hopatcong

    State ends hunt for snake in Lake Hopatcong

    Thursday, July 24 2014 12:58 PM EDT2014-07-24 16:58:56 GMT
    Reports of a 16-foot-long exotic snake slithering around New Jersey's largest lake are apparently a suburban legend or the snake just isn't hungry.
    A 16-foot-long exotic snake reportedly slithering around New Jersey's largest lake is apparently a suburban legend. Or the snake just isn't hungry. The state has stopped looking for the reptile after scientists failed to find any evidence of it in Lake Hopatcong and traps baited with chicken were left untouched. Three unconfirmed sightings this month of a snake, perhaps an anaconda as long as 16 feet, raised concerns among visitors and swimmers.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices