Buffett taps Lee Enterprises to manage many Berkshire newspapers
BPC Staff Jun 26, 2018 | 3:47 pm
<1 min read time
90 wordsAll Latest News, Arts and Culture, Statewide NewsReuters: Warren Buffett’s Berkshire Hathaway Inc. has hired Davenport-based Lee Enterprises Inc. to manage its newspaper and digital operations in 30 markets, hoping to boost readership and draw more advertisers as print circulation declines. Berkshire said today that it will continue to own BH Media Group, which owns 30 daily newspapers, including its hometown Omaha World-Herald, and 47 weekly newspapers. The five-year agreement calls for Lee to be paid $5 million a year plus a share of profits. Lee shares were up about 23 percent at $2.95 in midmorning trading.