News. BH Media (controlled by Warren Buffett’s Berkshire Hathaway) comprises 30 daily newspapers, 47 weeklies and 32 other print products, including the Omaha (Nebraska) World-Herald, the Waco (Texas) Tribune-Herald and the Richmond (Virginia) Times-Dispatch. Under an unusual arrangement, BH will continue to own all the newspapers (for the long-term, the great investor says) but Iowa-based publishing group Lee Enterprises will be paid $5m per year plus a share of all earnings above $34m, simply to manage them. Now that’s a creative deal that might just make newspaper management teams and private equity firms put their heads together – especially in the UK.
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Buffett’s newspapers strike a novel deal
