Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

NATION [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

NATION [Derived Headline]

Article excerpt

FACEBOOK SET FOR INITIAL PUBLIC OFFERING

NEW YORK -- Facebook's initial public offering could be one of the largest in history if its stock is priced at the high end of its expected range today.

Facebook Inc. will likely price its IPO late today, meaning that the investment banks orchestrating the offering will determine the price at which they plan to sell the stock to their clients. Facebook's stock is expected to begin trading on the Nasdaq Stock Market on Friday.

At the top of its expected price range of $34 to $38 per share, the offering could reap a $16 billion windfall for Facebook and its selling shareholders. That would make it the third-largest U.S. IPO in history.

BUFFETT BUYING MORE NEWSPAPERS

NEW YORK -- Billionaire Warren Buffett's company is making another foray into newspapers, agreeing to buy 63 newspapers from Media General Inc. for $142 million.

Berkshire Hathaway Inc. is also extending a loan to Media General and taking a 19.9 percent stake in the company, which will still own 18 TV stations. …

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