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>>

  • Some residents return after NJ brush fires force evacuations

    Some residents return after NJ brush fires force evacuations

    Thursday, April 24 2014 10:42 PM EDT2014-04-25 02:42:55 GMT
    A school and many homes in Ocean County, N.J., were evacuated on Thursday afternoon because of several brush fires that were fanned by winds. Some residents returned a few hours later. The largest fires burned about 300 acres around Berkeley Township. Firefighters had about 30 percent contained late Thursday night.
    A school and many homes in Ocean County, N.J., were evacuated on Thursday afternoon because of several brush fires that were fanned by winds. Some residents returned a few hours later. The largest fires burned about 300 acres around Berkeley Township. Firefighters had about 30 percent contained late Thursday night.
  • Princeton University giving town $24M

    Princeton University giving town $24M

    Thursday, April 24 2014 5:33 PM EDT2014-04-24 21:33:55 GMT
    Princeton University has agreed to contribute more than $24 million over the next seven years to the town of Princeton. The deal was announced Thursday and is set for consideration by the town government's approval on Monday. The university and town officials frame it was as a way to resolve an age-old issue in college towns where much of the land is university-owned and thus tax-exempt.
    Princeton University has agreed to contribute more than $24 million over the next seven years to the town of Princeton. The deal was announced Thursday and is set for consideration by the town government's approval on Monday. The university and town officials frame it was as a way to resolve an age-old issue in college towns where much of the land is university-owned and thus tax-exempt.
  • Large brush fire raging in Berkeley; homes evacuated

    Large brush fire raging in Berkeley; homes evacuated

    Thursday, April 24 2014 1:05 PM EDT2014-04-24 17:05:30 GMT
    A massive brush fire is burning acres of land between Grand Central and Northern Boulevards in Berkeley. Homes are being evacuated in the area. Police are in the area, including helicopters. We'll have more on this story as it becomes available.
    A massive brush fire is burning acres of land between Grand Central and Northern Boulevards in Berkeley. Homes are being evacuated in the area. Police are in the area, including helicopters. We'll have more on this story as it becomes available.
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