""Warren Buffett, who has acquired 69 newspapers and related properties in 10 states, is the latest investor to take a shine to local television stations despite the industry’s many challenges.

The Oracle of Omaha’s Berkshire Hathaway (BRK.A) has agreed to acquire Miami’s WPLG from Graham Holdings (WPO) as a part of a $1.1 billion swap with the company formerly known was the Washington Post Co. Under terms of the deal, Berkshire will hand 1.6 million shares of Graham Holdings back to the company.  Read More…

Source: www.cbsnews.com