(BRK.A), (BRK.B)
BH Media Group has added six Oklahoma weekly community newspapers, and one Tulsa-based business daily, to its growing print media empire.
The acquisitions come only three weeks after it acquired the Franklin News-Post, which covers Rocky Mount, Virginia, and the Martinsville Bulletin, which covers Martinsville, Virginia.
The Tulsa Business & Legal News, Broken Arrow Ledger, Sand Springs Leader, Coweta American, Wagoner Tribune, Owasso Reporter, and the Skiatook Journal were all acquired from Community Newspaper Holdings of Montgomery Alabama.
Each of the newspapers has a website in addition to its print version.
The seven newspapers purchased by BH Media give it a greater reach in the Oklahoma market, which already includes its ownership of the Tulsa World, the second highest circulation paper in the state after The Oklahoman.
The Tulsa Business & Legal News is a daily paper that focuses on business news, happenings and profiles in Green County. It publishes a print and digital version and runs the website TulsaBusiness.com. According to the paper, 79% of its readers have an income of over $100,000.
The six weekly’s circulations are all small, with the largest being the Broken Arrow Ledger at 22,500. The others are the Sand Springs Leader (circulation 4,500), Coweta American (circulation 3,000), Wagoner Tribune (circulation 4,000), Owasso Reporter (circulation 5,100), and the Skiatook Journal (circulation 2,800).
A Focus on Community News
BH Media Group focuses on community newspapers, which report on local government, police and fire calls, high school news and sports, community events, and operate in a different niche than major market newspapers.
BH Media Group currently has a portfolio of 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 operate WPLG-TV, an ABC affiliate in Miami, FL.
BH Media Group does not have a national news gathering operation. It uses wire service for national news, but does cover regional news and state governments, sharing that information across its newspapers.
To read a Special Report on BH Media Group’s revenues and acquisition strategies see BH Media Finds Multiples Success.
© 2015 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.