The State of Local, Legacy Newspapers 2020: Buffett sells his newspapers to Lee Enterprises

Katherine Chiglinsky and John J Edwards III:

Warren Buffett is getting out of the newspaper business.

Berkshire Hathaway Inc. agreed to sell its BH Media unit and its 30 daily newspapers to Lee Enterprises Inc., which owns papers including the St. Louis Post-Dispatch, for $140 million in cash. Lee has been managing the papers for Buffett’s company since 2018, and Berkshire is loaning Lee the money for the purchase.

More, here.

Related: the state of local journalism, 2018.