Buffett's newspaper unit selling marketing firm
OMAHA, Neb. (AP) — Berkshire Hathaway's media unit is selling its marketing company to a Wisconsin group, so it can focus more on its newspapers.
Warren Buffett's company announced the sale of World Marketing Inc. to businessman Robert M. Kraft on Tuesday. Terms were not disclosed.
Terry Kroeger, who leads BH Media, says the direct mail business that handles more 1 billion pieces of mail annually is no longer a core part of the business that now includes more than 30 newspapers.
World Marketing's clients have included American Airlines, Kraft Foods and Blue Cross Blue Shield.
World Marketing's headquarters will move to Wisconsin, but most of the 450 employees will stay where they are. The company has production facilities in Atlanta, Chicago, Dallas and Saint Louis.