Today's Transactions: <br>Berkshire Snaps Up Another Newspaper
Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK. and BRK.B) agreed to acquire the Bryan-College Station, (The Eagle) newspaper.
Berkshire picked up the Texas community newspaper from the Charleston, S.C. publishing house Evening Post Publishing Co. for an undisclosed price. The deal is set to close at the end of June.
Berkshire’s CEO, Buffett, has a lot of faith in newspapers. The company already owns a significant minority stake in The Washington Post Company (NYSE: WPO) and also owns Buffalo News.
In November, the billionaire spent approximately $200 million on Omaha World-Herald. Buffett later shelled out another $142 million to Media General Inc., for 63 of its newspapers in May.
Berkshire will place its latest addition to Omaha World-Herald’s midlands newspaper unit. The Eagle has close to 20,000 subscribers and was part of the Evening Post since 2001.