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“If a citizenry cares little about its community, it will eventually care little about its newspaper,” Mr. Buffett said.

Newspapers remain a relatively small part of Berkshire Hathaway, which owns an assortment of more than 80 subsidiaries and holds major investments in companies such as Coca-Cola Co., Wells Fargo and IBM. Berkshire’s subsidiaries include insurance, manufacturing, railroad, utility, furniture and restaurant firms.