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Buffett's Berkshire Hathaway to sell newspaper unit for $140 million

Lee has been managing the papers for Buffett's company since 2018, and Berkshire is loaning Lee the money for the purchase.

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Warren Buffett | Photo: Reuters

1 min read Last Updated : Jan 30 2020 | 2:07 AM IST

Warren Buffett is getting out of the newspaper business.

Berkshire Hathaway Inc. agreed to sell its BH Media unit and its 30 daily newspapers to Lee Enterprises Inc., which owns papers including the St. Louis Post-Dispatch, for $140 million in cash.

Lee has been managing the papers for Buffett’s company since 2018, and Berkshire is loaning Lee the money for the purchase.

Topics : Berkshire Hathaway