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. The newspapers, in Virginia, North Carolina, South Carolina, Alabama and Florida, would be combined with the Omaha World-Herald Co. into …
Continue reading “Warren Buffett buys 89 local newspapers – eschews larger publications”
Folks with several hundred million dollars and outspoken opinions have been buying up newspapers. The Omaha Herald, San Diego Union Tribune, Portland Press Herald, and Philadelphia Inquirer. At the end of last year, Warren E. Buffett bought The Omaha World-Herald through his company, Berkshire Hathaway. This would be the same Mr. Buffett who told his …
Continue reading “The return of the newspaper barons – very rich (and political) owners”