Wednesday, November 30, 2011

Mutual of Omaha: Buffett & World-Herald Share the Love

President Barack Obama and Warren Buffett in t...Image via WikipediaBillionaire Berkshire Hathaway Chair Warren Buffett continues to bolster his Nebraska presence with the purchase of the Omaha World-Herald ("OWH"), the paper announced today.

Berkshire Hathaway will be acquiring OWH, the nation's 49th largest daily newspaper, from the Peter Kiewith Foundation and the paper's employee shareholders.  The paper had been the nation's last employee-owned major daily as Berkshire Hathaway is poised to become its fifth owner since it was founded in 1885. Terry Kroeger is expected to remain as the paper's publisher and president, according to the OWH online story.

The OWH owns a number of smaller papers, including the Council Bluffs (Iowa) Nonpareil along with papers in North Platte and Scottsbluff, Nebraska, among other publications.

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