Warren Buffett buys Press of Atlantic City - FOX 10 News | fox10phoenix.com

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>>

  • Revel Casino Hotel starts closing in Atlantic City

    Revel Casino Hotel starts closing in Atlantic City

    Monday, September 1 2014 5:16 PM EDT2014-09-01 21:16:28 GMT
    Photo by Arun Kristian DasPhoto by Arun Kristian Das
    The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling begins to play out Monday when the $2.4 billion Revel Casino Hotel empties its hotel.
    Atlantic City's newest casino and its costliest failure has begun its two-day shutdown.
  • Man to face murder charges in mother's slaying

    Man to face murder charges in mother's slaying

    Monday, September 1 2014 3:08 PM EDT2014-09-01 19:08:57 GMT
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
  • Why is Atlantic City collapsing?

    Why is Atlantic City collapsing?

    Sunday, August 31 2014 8:38 PM EDT2014-09-01 00:38:30 GMT
    AP file photoAP file photo
    For decades, making some quick cash was the main drive behind so many who took the ride down the parkway to Atlantic City. But with so much to choose from nowadays, it looks like Atlantic City is in a lot of trouble.
    For decades, making some quick cash was the main drive behind so many who took the ride down the parkway to Atlantic City. But with so much to choose from nowadays, it looks like Atlantic City is in a lot of trouble.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

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