Warren Buffett made good Thursday on his promise to buy more
newspapers, agreeing to buy 63 daily and weekly newspapers in the
Southeast for $142 million from financially troubled Media General Inc. of Richmond, Va.
And Buffett said Thursday he may buy more newspapers. “Any time
we can add properties we like, to management we like, at a price we
like, we're ready to go.”
The newspapers, in Virginia,
North Carolina, South Carolina, Alabama and Florida, would be combined
with the Omaha World-Herald Co. into a new Berkshire Hathaway Inc.
division called BH Media Group. They would be managed by World Media
Enterprises, a new sister company of The World-Herald.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Newspapers are going the way of the dinosaur not a good investment.
ReplyDeleteWhats a newspaper?
ReplyDeleteI still own some beer can openers. their for sale Mr. Buffett.
ReplyDeleteI have some old pay phones he might be interested in.
ReplyDeleteI think it would be better for the industry if Jimmy Buffett would take it over. Now those are some papers I'd buy!
ReplyDelete