The Tulsa World announced [yesterday] that BH Media Group, a subsidiary of Berkshire Hathaway, will buy the newspaper from the Lorton family, with the sale expected to close in March.
A sale to Berkshire Hathaway is good news for the employees of the World, at least those involved directly in producing content. It has long been Warren Buffett’s policy to let an acquired company’s management continue to run things without interference from Omaha… As part of a multi-newspaper group, the World may also be able to cut costs by taking advantage of central purchasing and central administration, perhaps to include IT support and web development. So the news may not be so good for the administrative and support staff at the paper.
I think we can assume that Mr Bates approves the sale: not once did he refer to the paper as the “Whirled.”
Still, it’s rather disconcerting that the two largest papers in the state all of a sudden have out-of-state ownership. (In late 2011, Colorado billionaire Philip Anschutz acquired the Oklahoman.)