GREENSBORO, NC - January 31, 2013 - BH Media Group, a subsidiary of Berkshire Hathaway, today acquired the Greensboro (NC) News & Record from Landmark Media Enterprises.
Dirks, Van Essen & Murray, a newspaper merger and acquisition firm in Santa Fe, New Mexico, represented Landmark Media Enterprises in the transaction. Terms were not disclosed.
The News & Record, a 58,000-circulation daily and 86,000-circulation Sunday publication, is North Carolina’s third largest newspaper. Its website, news-record.com, is the largest and best-read newspaper website in Guilford County.
“We’re delighted to have the Greensboro News & Record join our growing family of newspapers,” said Terry Kroeger, CEO of BH Media Group. “The News & Record is a great fit with our newspapers in North Carolina. We welcome the Greensboro employees into the BH Media family.”
“While we will miss the many talented and dedicated employees of the News & Record, we are pleased they will be joining a company such as BH Media that is committed to the future of newspapers,” said Michael Abernathy, president of Landmark Media Enterprises Publishing Division.
The News & Record’s history dates to the 1890 launch of The Daily Record. The Greensboro Daily News was established in 1909. The Daily News bought the Daily Record in 1930 and continued to publish both titles, the News as a morning paper and the Record as an evening paper. The two titles were combined in 1982 to form the News & Record. The News & Record had been owned by Landmark since 1965.
BH Media Group, headquartered in Omaha, is a wholly owned subsidiary of Berkshire Hathaway Company (NYSE: BRK.A and BRK.B). BH Media Group now owns 30 daily newspapers and related weekly newspapers in Nebraska, Iowa, Texas, Virginia, North Carolina, South Carolina, Alabama and Florida.