Berkshire Hathaway is buying WPLG in Miami from Graham Holdings Co., former parent of the Washington Post.
CEO Warren Buffett is a long-time holder of stock in GHC when it was the Washington Post Co.
The transaction, which has yet to be finalized, will be financed via cash and exchange of some of BH’s shares in GHC.
GHC, which sold WaPo to Amazon founder Jeff Bezos, owns Kaplan educational services company; Cable One, cable TV operator in 19 midwestern, western and southern states;TV stations in Detroit, Houston, Orlando, San Antonio and Jacksonville; Foreign Policy and Slate.com
BH’s media holdings consist of newspapers such as Buffalo News, Richmond Times-Dispatch and Omaha World Herald.