Warren Buffett just bought two small Virginia newspapers

Warren BuffettREUTERS/Rick WilkingBerkshire Hathaway chairman Warren Buffett gestures at the start of a 5km race.

OMAHA, Neb. (AP) — Warren Buffett’s company has added two small Virginia newspapers to its collection of more than two dozen small and medium-sized newspapers.

Berkshire Hathaway Media said Tuesday that it had acquired The Martinsville Bulletin and the Franklin News-Post in Rocky Mount, Virginia, from Haskell Newspapers.

Terms of the deal are not being disclosed. Berkshire Hathaway owns 31 daily newspapers and dozens of weeklies in 10 states, including several in Virginia.

Berkshire said the Martinsville paper has a 12,250 daily circulation that reaches more than 60 per cent of the community. The Franklin paper publishes 5,100 copies three times a week.

Newspapers remain a relatively small part of Berkshire Hathaway, which owns an assortment of more than 80 subsidiaries and holds major investments in companies like Coca-Cola Co., Wells Fargo and IBM.

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