Feb 26 Warren Buffett added another newspaper to
his growing chain - this time in Tulsa, Oklahoma - as he scours
the United States for papers in small, community-focused
A subsidiary of Buffett's Berkshire Hathaway, BH
Media Group, said on Monday that it bought the 95,000 daily
circulation Tulsa World from the Lorton family for an
undisclosed sum. The deal is expected to close in March.
The Lortons have published Tulsa World for more than a
"The newspaper business has become a difficult business
model within a changing society, and in particular for local
family-owned newspapers," Robert Lorton Jr., chairman of World
Publishing Co, which publishes Tulsa World, said in a statement.
A report in Tulsa World about the sale said the newspaper is
While newspapers have been in a world of hurt as advertisers
flee and readers turn to their smartphones for news, publishers
in smaller to medium-sized markets have faired better than their
BH Media Group operates more than 60 daily and weekly
newspapers mainly in smaller communities throughout several
states including Texas, Nebraska, Virginia and North Carolina.
Buffett also holds stakes in Washington Post Co,
Gannett Co and Lee Enterprises.