Buffett's Berkshire to Buy Media General Papers

Billionaire Warren Buffett's company is making another foray into newspapers, agreeing to buy 63 newspapers from Media General for $142 million. Berkshire Hathaway is also extending a loan to Media General and taking a 19.9 percent stake in the company, which will still own 18 TV stations and some websites. Media General said the deal includes all of its newspapers except the Tampa Tribune of Florida and smaller newspapers in that market. It's in talks to sell those newspapers to other buyers. Berkshire Hathaway is buying the Richmond Times-Dispatch in Virginia, the Winston-Salem Journal in North Carolina and the Morning News of Florence (SC) among others.