Berkshire Hathaway is selling its newspapers to publisher Lee Enterprises for $140 million, a rare admission by the billionaire investor that he views his newspaper business as unsustainable
Warren Buffett’s Berkshire Hathaway Inc. is selling its newspapers to publisher Lee Enterprises Inc. for $140 million, a rare admission by the billionaire investor that he views his current newspaper business as unsustainable.
Mr. Buffett, a lifelong newspaper lover, has said for years that Berkshire’s newspaper business declined faster than he expected. In mid-2018, Berkshire hired Lee to manage all of its newspapers except the Buffalo News.
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