Warren Buffett buys Tulsa paper from family owners




Warren Buffett’s newspaper group — BH Media Group, a division of Berkshire Hathaway Inc. — will buy the

Tulsa World

from the Lorton family of Tulsa, Okla., who have owned the paper for four generations, the


Omaha

(Neb.)

World-Herald

reported.

The price wasn’t disclosed.

The

World

is Oklahoma’s second-largest newspaper, with a circulation of 95,000 on weekdays and 133,000 on Sundays, the

World-Herald

article said.

World Publishing Co. chairman Robert E. Lorton Jr. said:

“The newspaper business has become a difficult business model within a changing society and in particular for local family-owned newspapers.”

The

World

will be the 28th newspaper owned by BH Media. It also owns 40 newspapers published less frequently, as well as shoppers, monthly publications, regional magazines and related online properties, the

World-Herald

article said.

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The

World

has been Tulsa’s only daily paper since the

Tulsa Tribune

closed in 1992, the

World-Herald

article said. Eugene Lorton became the sole owner of the paper in 1917. Robert E. Lorton III, son of the chairman, became publisher of the

World

in 2005. (Source:

Omaha World-Herald,

Feb. 25, 2013.)

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