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Media General Sells News & Messenger, Inside NoVA, Other Newspapers

Warren Buffett's Berkshire Hathaway is buying nearly all of Media General's newspapers and news sites.

Local news sources InsideNoVa.com and the News & Messenger will be in new hands by June 25, the Associated Press and Bloomberg.com report.

Media General is selling nearly all of its newspapers and news sites to Warren Buffett's Berkshire Hathaway for $142 million, according to the Wall Street Journal

Berkshire Hathaway is a major shareholder for the Washington Post Co., and owns Buffalo News in New York.

“We are extremely pleased to enter into a new financing partnership with the highly respected Berkshire Hathaway organization. Our new credit agreement addresses Media General’s long-term capital needs and provides the company with significant financial and operating flexibility,” said Marshall Morton, president and C.E.O. of Media General, in an interview with the Associated Press as published on Fredericksburg.com.

O.P. Ditch May 17, 2012 at 07:29 PM
More liberal crap coming your way Virginia!
Rachel Leon May 18, 2012 at 02:34 PM
Do you think the Washington Post is going to use InsideNoVA / News & Messenger to extend its network throughout Virginia, like some have said?

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