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Berkshire to pay $142m for papers

Associated Press

  May 18, 2012

Billionaire Warren Buffett’s company is making another foray into newspapers, agreeing to buy 63 newspapers from Media General Inc. for $142 million. Berkshire Hathaway Inc. is also extending a loan to Media General and taking a 19.9 percent stake in the company, which will still own 18 TV stations. Media General also owns some websites, such as coupon provider DealTaker.com.

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