The parent company of the Tulsa World has decided to shut down the Broken Arrow Ledger, the community’s local newspaper for decades. Bill Masterson, Jr., president and publisher of Tulsa World Media Company, said the Ledger had not been profitable since it was purchased in 2015.
The Ledger, the Skiatook Journal, the Tulsa Business and Legal News, the Sand Springs Leader, the Owasso Reporter, the Coweta American and the Wagoner Tribune were all purchased by the Tulsa World Media Company, which is owned be Berkshire Hathaway Media Group (run by billionaire Warren Buffett in Omaha, Nebraska).
“Even though most of the papers were operating at a loss, it was my belief that with the help of the Tulsa World resources we could make the papers profitable,” Masterson wrote concerning the decision to close the Broken Arrow Ledger. “In the end, we could not bring the Ledger into profitability even by stripping out all costs except the actual salaries, printing and distribution.”
Masterson has not publicly stated if the other community newspapers in the group are going to be ended.
In 1992, the Tulsa World, then owned by the Lorton Family, purchased the Tulsa Tribune and shut down that daily newspaper.