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Buffett buys Media General
Warren Buffett’s Berkshire Hathaway is boosting its bet on the US newspaper industry, with a deal to buy the majority of Media General’s papers for $142m (£89.7m) in cash. The deal, announced yesterday, means Buffett will have a stable of about 25 daily newspapers across the country. Berkshire will also lend Media General $400m and provide a $45m credit line.