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Thursday, May 17, 2012

Buffett to buy 63 newspapers

Print journalism may be going the way of 8 track but that isn't stopping Obama loving, big government statist Warren Buffett from buying up 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.
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Judy Morris,
Blogger, THL
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