Berkshire Hathaway’s BH Media Group has acquired The Free Lance-Star, a newspaper serving Fredericksburg, Virginia. The paper was purchased from the investment firm Sandton Capital Partners, which picked up the paper through bankruptcy in June 2014.
BH Media Group acquired The Free Lance-Star daily newspaper, its website fredericksburg.com, the Star Weekly, and a commercial printing facility.
Published for more than 140 years, The Free Lance-Star has a Monday through Friday daily circulation of 36,991, Saturday circulation of 40,685, and Sunday circulation of 43,070. In addition, the Star Weekly newspaper has a total circulation of 79,400.
The acquisition gives BH Media Group a total of 37 newspapers, publications and websites serving Virginia.
In total, BH Media Group owns 73 newspapers and other titles located in 10 states, including: Alabama, Florida, Iowa, Nebraska, New Jersey, North Carolina, Oklahoma, South Carolina, Texas and Virginia. They also own and operate WPLG-TV, an ABC affiliate in Miami, Florida.
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.