Warren Buffett's Firm Takes Control of NJ Newspaper

Sunday, Aug 11, 2013  |  Updated 1:38 PM EDT
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Buffett's Firm Takes Control of NJ Newspaper

AP

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Warren Buffett's Berkshire Hathaway Inc. has formally taken control of The Press of Atlantic City.

The newspaper says the change in ownership was completed on Saturday.

BH Media Group had announced last month that it was buying the newspaper from Abarta, a private Pittsburgh firm held by the Taylor and Bitzer families. The Press had been owned by the families since 1951.

Financial terms of the deal have not been disclosed.

The Press has a daily circulation of 67,000 and a Sunday circulation of 77,000. It is based in Pleasantville, just outside Atlantic City.

The newspaper's new publisher is Mark Blum, who was controller for The Press from 1989 to 1993. Peter Brophy currently serves as interim editor.

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