Warren Buffett’s Berkshire acquires two newspapers in Virginia

Warren Buffett’s Berkshire acquires two newspapers in Virginia

Billionaire investor Warren Buffett’s Berkshire Hathaway has acquired controlling stake in two small newspapers in Virginia. Berkshire Hathaway now owns controlling stake in more than two dozen small and mid-size newspapers across the country.

Berkshire Hathaway Media confirmed that it has bought controlling stake from Haskell Newspapers in The Martinsville Bulletin and the Franklin News-Post in Rocky Mount, Virginia. Berkshire Hathaway Media has not shared the financial terms of the deal.

The Martinsville Bulletin has a daily circulation of 12,250 and the Franklin News-Post prints 5,100 copies thrice a week.

In his recent comments on the developments in the Eurozone, Buffett said that departure of Greece from the Eurozone could be a good thing indeed. During an interview with CNBC, Buffett said, “If everybody learns that the rules mean something and if they come to general agreement about fiscal policy among members, or something of the sort, that they mean business, that could be a good thing.”

European currency has suffered the biggest decline in the past six months. The Euro still looks weak on the charts and the issues in some of the laggard economies in the European Union are causing further fall in the currency.

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