Lee Enterprises, Berkshire strike deal

Iowa-based Lee Enterprises, which owns half of Capital Newspapers Inc. in Madison, struck a five-year deal with Omaha-based Berkshire Hathaway to manage its newspaper and digital operations across 30 markets, according to a story from the Wisconsin State Journal, one of Lee’s larger publications. Berkshire Hathaway, one of many corporations owned by Warren Buffet, will pay Lee Enterprises $5 million a year plus a percentage of profits as part of the agreement.