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Berkshire Hathaway to buy newspapers in Nebraska, Iowa
Berkshire-Hathaway Inc., the Omaha company led by Warren Buffet, has agreed to acquire the Omaha World-Herald Company.
The purchase of the Omaha World-Herald Company includes six daily newspapers and several weekly newspapers in Nebraska and Southwest Iowa in addition to the company's namesake publication.
The acquisition is pending regulatory approvals and the approval of Omaha World-Herald shareholders, consisting of current and retired employees, and the Peter Kiewit Foundation. It is expected to close in late December.
The Omaha World-Herald Company owns daily newspapers in Council Bluffs and the Nebraska cities of Grand Island, York, Kearney, North Platte and Scottsbluff. It also owns many weekly newspapers and shoppers in the two states, and a direct marketing firm, World Marketing Inc.
Warren Buffett, chairman of Berkshire Hathaway, speaks on the sale of the Omaha World-Herald to Berkshire Hathaway Wednesday Nov. 30, 2011 in Omaha Neb. The sale is pending approval of the World-Herald's shareholders. (AP Photo, The Omaha World-Herald, Jeff Bundy)
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