Warren Buffett’s World Media Enterprises says the 10,000-circulation Manassas (Va.) News & Messenger will close at the end of the year, putting 105 people out of work. “We didn’t see any way to really turn it back into a profitable enterprise, reliably, so what made the most sense was to just cease publication,” says World Media chairman Terry Kroeger. The News & Messenger, which Buffett acquired earlier this year from Media General, was founded 1869.
Kroger says World Media doesn’t plan to close any other papers. “The rest of them, we’re delighted with. It’s just this one piece of it that had something that we didn’t think we could overcome.”