NEW YORK —
The Wall Street Journal, which is owned by News Corp., previously reported on the sale discussions.
Shares of the company rose 2.3 percent to $31.03 wEDNESday in New York. The stock has climbed 22 percent this year.
Warren Buffett, the world's third-richest person, has emerged as one of the biggest acquirers of community newspapers in recent years. His company, Berkshire Hathaway Inc., has purchased more than 80 newspapers for more than $342 million. Local papers that deliver reliable information to "tightly bound communities" with a sensible Internet strategy will stay viable, Buffett has said.
Buffett didn't immediately respond to a request for comment sent to an assistant.