BH Media Group Buys The Press of Altantic CityWarren Buffett is still buying newspapers. Buffett's BH Media Group, a subsidiary of Berkshire Hathaway Company, is purchasing The Press of Atlantic City through a private holiding company called ABARTA. Mark Blum will be the new publisher of the daily newspaper.
Blum told The Press, "I couldn't be more excited about getting the opportunity to return to Atlantic City and work with such an outstanding team of employees at The Press of Atlantic City. The Press is one of New Jersey's finest newspapers, and its digital presence is dominant. All of us at BH Media are very excited to become associated with a newspaper and a community like The Press and South Jersey."
CNN/Money reports that Buffett's company has purchased over two dozen newspapers in the past 18 months. BH Meda Group's website says it now operates a total of 68 newspapers.
Posted on July 21, 2013