Warren Buffett buys Press of Atlantic City - Mid-South News, Weather, Traffic and Sports | FOX13

Warren Buffett buys Press of Atlantic City

Posted: Updated:

OMAHA, Neb. (AP) -- Warren Buffett's Berkshire Hathaway Inc. is adding the Press of Atlantic City, N.J., to its collection of more than two dozen small and medium-sized newspapers.
 
Berkshire said Thursday that it's buying the Press from Abarta, which is a private Pittsburgh firm held by the Taylor and Bitzer families.
 
The Press will be Berkshire's 31st daily newspaper. It has a daily circulation of 67,000 and a Sunday circulation of 77,000 in southern New Jersey.
 
Financial terms of the deal were not disclosed.
 
Buffett has said he believes smaller papers like the ones Berkshire is buying will fare OK because they remain the primary source of information about their communities.
 
But Buffett says the newspapers will do little to help Berkshire's profits because they are relatively small compared to the total conglomerate.

  • New Jersey NewsNew Jersey NewsMore>>

  • Police officers successfully help deliver baby with wrapped cord

    Police officers successfully help deliver baby with wrapped cord

    Thursday, April 24 2014 8:12 AM EDT2014-04-24 12:12:40 GMT
    As he tried to assist in the delivery of a newborn, Manchester, N.J. police officer Joseph Fastige noticed the umbilical cord was wrapped around the child’s neck.
    As he tried to assist in the delivery of a newborn, Manchester, N.J. police officer Joseph Fastige noticed the umbilical cord was wrapped around the child’s neck.
  • Fire at Carlstadt Post Office

    Fire at Carlstadt Post Office

    Thursday, April 24 2014 7:50 AM EDT2014-04-24 11:50:47 GMT
    An overnight fire caused significant damage to a Carlstadt, N.J. post office.  It happened around 1:30 a.m. on Thursday at 331 1st Street.
    An overnight fire caused significant damage to a Carlstadt, N.J. post office.  It happened around 1:30 a.m. on Thursday at 331 1st Street.
  • Port Authority could rescind $1 NJ Transit lease

    Port Authority could rescind $1 NJ Transit lease

    Wednesday, April 23 2014 2:57 PM EDT2014-04-23 18:57:07 GMT
    NJ TransitNJ Transit
    The Port Authority of New York and New Jersey is holding its monthly board meeting, two days after it heard from a panel on what it needs to do to improve its accountability and efficiency and restore public trust.
    The Port Authority of New York and New Jersey could rescind a $1-a-year lease for a park-and-ride lot near the Lincoln Tunnel. The agency's chief of real estate and development told a committee Wednesday that it should change a deal made in 2012. Published reports have alleged that former Port Authority chairman David Samson voted to approve the lease even though his law firm did business with New Jersey Transit, which operates the park-and-ride lot.
Powered by WorldNow

WHBQ-TV | Fox 13
485 S. Highland St.
Memphis, TN 38111

Main Station: (901) 320-1313
Newsroom: (901) 320-1340

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices