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.
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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