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Saturday, May 19, 2012

Buffett to Buy 63 newspapers

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.



Anonymous said...

Newspapers are going the way of the dinosaur not a good investment.

Anonymous said...

Whats a newspaper?

Anonymous said...

I still own some beer can openers. their for sale Mr. Buffett.

Anonymous said...

I have some old pay phones he might be interested in.

Anonymous said...

I think it would be better for the industry if Jimmy Buffett would take it over. Now those are some papers I'd buy!