Warren Buffett buys Press of Atlantic City - DC News FOX 5 DC WTTG

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>>

  • Trump Plaza closes; mogul Donald Trump may step in

    Trump Plaza closes; mogul Donald Trump may step in

    Tuesday, September 16 2014 8:23 AM EDT2014-09-16 12:23:53 GMT
    A fourth Atlantic City casino has gone out of business.  Trump Plaza shut its doors at 6 a.m. Tuesday.  The casino at the center of the Boardwalk and the end of the Atlantic City Expressway has been declining for years, performing worse than any of the city's other casinos.
    A fourth Atlantic City casino has gone out of business.  Trump Plaza shut its doors at 6 a.m. Tuesday.  The casino at the center of the Boardwalk and the end of the Atlantic City Expressway has been declining for years, performing worse than any of the city's other casinos. Real estate mogul Donald Trump took to Twitter on Tuesday to say he left Atlantic City years ago but may return.
  • Police-involved shooting in Rutherford

    Police-involved shooting in Rutherford

    Tuesday, September 16 2014 6:04 AM EDT2014-09-16 10:04:16 GMT
    At least one suspect was shot in a police-involved shooting in Rutherford, New Jersey. The shooting occurred at about 2:30 a.m. at Rutherford Ave. and Ridge Rd. A tweet from Bergen County Prosecutor John Molinelli read that the shooting may have involved Lyndhurst Police and a State Trooper.
    At least one suspect was shot in a police-involved shooting in Rutherford, New Jersey. The shooting occurred at about 2:30 a.m. at Rutherford Ave. and Ridge Rd. A tweet from Bergen County Prosecutor John Molinelli read that the shooting may have involved Lyndhurst Police and a State Trooper.
  • NJ, NY officials meet about security

    NJ, NY officials meet about security

    Monday, September 15 2014 5:50 PM EDT2014-09-15 21:50:11 GMT
    With new concerns about home grown terrorism becoming more urgent, city and state officials -- including New Jersey Gov. Chris Christie, New York Gov. Andrew Cuomo, and New York City Mayor Bill de Blasio -- met with Homeland Security Secretary Jeh Johnson to devise new strategies. NYPD counterterrorism police stood watch outside the Midtown Manhattan meeting where city, state and federal law enforcement officials coordinated their new security plans.
    With new concerns about home grown terrorism becoming more urgent, city and state officials -- including New Jersey Gov. Chris Christie, New York Gov. Andrew Cuomo, and New York City Mayor Bill de Blasio -- met with Homeland Security Secretary Jeh Johnson to devise new strategies. NYPD counterterrorism police stood watch outside the Midtown Manhattan meeting where city, state and federal law enforcement officials coordinated their new security plans.
Powered by WorldNow
Untitled

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

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