Berkshire Hathaway to buy Media General newspapers for $142 million

Reuters News
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Posted: May 18, 2012 9:47 PM

(Reuters) - Berkshire Hathaway Inc will buy all newspapers owned by Media General Inc, with the exception of Tampa group, for $142 million in cash, the companies said.

Media General said it is in discussions with other prospective buyers for its Tampa print assets.

Berkshire Hathaway will also provide Media General with a $400 million term loan and a $45 million revolving credit line.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Viraj Nair)