Warren Buffett buys Media General papers for $142 million

Warren Buffett’s Berkshire Hathaway is buying Media General’s newspapers for $142 million in cash. The Tampa Tribune isn’t included in the deal; Media General says it’s talking to people interested in that paper. (The newspapers being acquired by BH include 63 daily and weekly titles in Virginia, North Carolina, South Carolina and Alabama.)

Richmond, VA-based Media General disclosed in February that it had “received inquiries from several third parties regarding the potential purchase of certain of its print assets,” and Buffett said earlier this month that “we may buy more newspapers.” (He bought his hometown paper, the Omaha World-Herald, last November. Here is that paper’s story on today’s deal.)

* Berkshire Hathaway buys Media General papers (Richmond Times-Dispatch)
* Read Media General’s press release about the deal
* What Buffett said about newspapers in 2009
* Buffett talks newspapers with Bloomberg TV
* Buffett performs at Omaha Press Club annual banquet