Warren Buffett has added another daily newspaper — the Tulsa World — to his portfolio.
The billionaire’s BH Media Group is buying the 95,000-circulation daily from the Lorton family for an undisclosed amount. The Lortons have owned the paper for four generations.
World chairman Robert E. Lorton Jr. says: “The newspaper business has become a difficult business model within a changing society and in particular for local family owned newspapers. BH Media Group presents the best opportunity to continue a local paper that will serve this community, our friends and neighbors.”
BH Media CEO calls the World “a special newspaper in an outstanding market” and “a great fit for our company.”
Buffett bought the Greensboro News & Record about a month ago.