Lee Enterprises teaming up with BH Media to manage Berkshire's newspaper, digital operations
Lee Enterprises Inc. has joined with BH Media Group Inc. in an agreement for Lee to manage Berkshire Hathaway’s newspaper and digital operations in 30 markets, beginning July 2.
The agreement provides Lee with flexibility to implement revenue initiatives and business transformation consistent with how it manages its own newspaper and digital operations in 49 markets, while Berkshire Hathaway continues as owner of BH Media.
Warren Buffett, chairman and CEO of Berkshire Hathaway, said: “I love our newspapers and am passionate about the vital role they serve in our communities. Although the challenges in publishing are clear, I believe we can benefit by joining efforts.
"Lee Enterprises’ growth in digital market share and revenue has outpaced the industry. Lee also has led the industry in overall innovation and performance, all while faithfully fulfilling its public trust as an indispensable source for local news, information and advertising.
"Our missions and goals match exactly, our markets are similar, and we both have excellent managers,'' Buffett said.
“We’ve known Lee Enterprises for years as a neighbor and industry partner,” said Mike Reilly, former executive editor of The World-Herald and vice president for news of BH Media Group. “I’m hopeful we can learn more from Lee in our shared challenges to deliver great journalism, advertising and customer service for print and digital readers.”
