News & Record sold to Warren Buffett company

Greensboro News & RecordJanuary 31, 2013 

— The News & Record has been sold to the newspaper division of Berkshire Hathaway Inc., a Fortune 500 company based in Omaha, Neb.

BH Media Group will acquire the Greensboro newspaper from Landmark Media Enterprises for an undisclosed sum. The sale was scheduled to close late Thursday.

The News & Record is North Carolina’s third-largest newspaper.

Last June, BH Media Group bought the Winston-Salem Journal and newspapers in Hickory, Statesville, Mooresville, Morganton and Reidsville-Eden as part of a much bigger purchase of newspapers from Media General Inc.

In December 2011, BH Media Group agreed to buy the Omaha World-Herald, hometown paper of Warren Buffett, the famed investor who leads Berkshire Hathaway.

News & Record employees were informed of the sale Thursday morning in a meeting with Frank Batten Jr., chairman and CEO of Landmark.

“We’re delighted to have the Greensboro News & Record join our growing family of newspapers,” BH Media CEO Terry Kroeger said in a prepared statement. “The News & Record is a great fit with our newspapers in North Carolina. We welcome the Greensboro employees into the BH Media family.”

The News & Record had been owned by Landmark since 1965. The newspaper has about 265 employees. Its president and publisher is Robin A. Saul.

“While we will miss the many talented and dedicated employees of the News & Record, we are pleased they will be joining a company such as BH Media that is committed to the future of newspapers,” Michael Abernathy, president of Landmark Media Enterprises’ publishing division, said in a prepared statement.

The News & Record has a circulation of 58,000 daily and 86,000 on Sunday. Its website, news-record.com, is the largest and best-read newspaper website in Guilford County.

The News & Record’s history dates to the launch in 1890 of The Daily Record. The Greensboro Daily News was established in 1909.

The Daily News bought the Daily Record in 1930 and continued to publish both titles, the News as a morning paper and the Record as an evening paper.

The two titles were combined in 1982 to form the News & Record.

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