Warren Buffett’s newspaper company said Thursday it plans to purchase the Press of Atlantic City, N.J., for an undisclosed price.
The Press is owned by Abarta, a private holding company in Pittsburgh, and has a daily circulation of 67,000 and a Sunday circulation of 77,000 in southern New Jersey.
BH Media, the newspaper division of Berkshire Hathaway Inc., said Mark Blum will become publisher of the Press when the purchase takes effect in August. Blum was controller of the Press from 1989 to 1993 and is publisher of the Morning News in Florence, S.C., one of what will be 30 daily newspapers owned by BH Media.
John Bitzer III, president and CEO of Abarata, said BH Media’s “reputation for journalistic integrity and astute business management should be welcome by the market, and by the people at the Press.”
The Press covers most of southeastern New Jersey and is the state’s sixth largest newspaper. Its historical account says it was first published in 1895 as the Daily Press by Walter Edge, who later became governor of New Jersey, a U.S. senator and ambassador to France.
Terry Kroeger, CEO of BH Media Group, said, “We look forward to the opportunity to continue the tradition of community-minded journalism carried on by the Bitzer/Taylor family for over 50 years.”
BH Media purchased The Roanoke Times in May, making it the latest daily newspaper in Virginia to be acquired by the company. BH Media also owns papers in Bristol, Charlottesville, Danville, Lynchburg and Richmond.