Berkshire Hathaway to dump newspapers for $140M

Warren Buffett's Berkshire Hathaway has agreed to sell its portfolio of more than 30 daily newspapers and dozens of other weekly publications to newspaper conglomerate Lee Enterprises for $140 million in cash. Berkshire Hathaway will also provide a $576 million loan to Lee to help the company pay for the takeover and refinance some $400 million in existing debt. The assets include daily newspapers in 10 states in the US.

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