Lee Enterprises, a publicly traded media conglomerate, is officially expanding its footprint in the U.S. with the acquisition of 30 local newspapers from Warren Buffett’s media company.
Berkshire Hathaway, Buffett’s holding company, said in January that it would sell BH Media Group (BHMG), effectively moving Buffett out of the media business.
With its $140 million purchase of BHMG, Lee Enterprises has gained control of 77 publications in 77 different communities including The Press of Atlantic City in New Jersey, The Buffalo News in New York and the Omaha World-Herald.
“Lee looks forward to leveraging our deep knowledge of this portfolio to drive further efficiencies across our expanded and integrated operation,” said Kevin Mowbray, president and CEO, in a statement.
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