Posted on 05/17/2012 8:51:36 AM PDT by SoFloFreeper
Warren Buffett's Berkshire Hathaway has bought 63 newspapers from Media General for $142 million, the companies announced today.
Berkshire Hathaway subsidiary BH Media Group will now add daily and weekly titles in Virginia, North Carolina, South Carolina, and Alabama to the Omaha World-Herald Company newspapers it already owns. Those papers include the Richmond Times-Dispatch (VA) and the Winston-Salem Journal (NC). Media General, which also owns 18 network-affiliated television stations, will hold its Tampa, Florida, newspapers.
(Excerpt) Read more at politico.com ...
142 million is a small investment compared to the sweet deals the Kenyan Kommie can set Buffett up with.
Buffett always talks about the absolute necessity of his investments having an “economic mote” ie) that thing which competitors couldn’t duplicate and the market would always need as there was no viable replacement.
Exactly how do dying newspapers fit that requirement???
For me, Buffett showed his “country cousin” routine to be a fraud when he “invested in” Goldman Sachs just before it was bailed out by TARP and the FED.
Oh, wait.
Buffett's a liberal. Never mind.
>> Exactly how do dying newspapers fit that requirement???
Factor in Buffett’s gray matter, which is also dying.
Bill Gates Buys More News Coverage for His Seattle Foundation, Gives ABC $1.5 Million (2010)
No one can duplicate any bailout money that Buffet gets and channels to the liberal newspapers.
Newspapers are laying off staff, newsprint paper mills are closing.
Why buy into an industry like this ?
What a waste of money but its liberal money so who cares? No one reads nespapers anymore anyway except for the adds, sports and comics.
Somewhat related, Buffet is a big donor to the Gates foundation. Bill Gates is obsessed with population control and abortion. His father worked for planned parenthood.
Because the liberals want to save the newspaper industry. What better way than the government handing over money to help Warren Buffet who in turn returns the favor by using a hundred million or two to shore up the newspaper industry which in turn will publish more leftist propaganda?
Let me translate..they couldn't GIVE it away...
Big rumor here is that the Trib folds at the end of the year..The want to let their reporters cover the RNC, and get the $$ from the Christmas ads..and then..they pull the plug..
The Bay area can't support TWO papers..so now we'll be stuck with the commie Tampa Bar Times...
Hmmm. Will the left now start whining about Buffett the way they continually whine about Rupert Murdoch? Methinks that’s not ruddy likely.
I don't like the answers that I can find. Either Buffet expects to get more back in tax dollars than he spent for the companies, or he expects to use his control over information as a lever to obtain what he wants.
A small group of leading climate scientists, financially supported by billionaires including Bill Gates, are lobbying governments and international bodies to back experiments into manipulating the climate on a global scale to avoid catastrophic climate change.
The scientists, who advocate geoengineering methods such as spraying millions of tonnes of reflective particles of sulphur dioxide 30 miles above earth, argue that a "plan B" for climate change will be needed if the UN and politicians cannot agree to making the necessary cuts in greenhouse gases, and say the US government and others should pay for a major programme of international research.
Experts call WHO & Bill Gates Foundation's role in India's polio eradication .campaign unethical
...The authors noted that while India was polio-free in 2011, in the same year, there were 47500 cases of NPAFP. While data from India’s National Polio Surveillance Project showed NPAFP rate increased in proportion to the number of polio vaccine doses received
“Factor in Buffett’s gray matter, which is also dying.”
Indeed. Buffett is now simply another fool, you know the type: there’s no fool like an old fool.
The one-time genius investor has lost it. He’s still living in the era of iron-horses and rotary dial telephones, or perhaps he’s simply lapsed back into living in that era as his brain fails from old age.
Investing in newspapers is like investing in buggy-whip makers: “Wow, look how cheap they are! And small-town communities are still going to need buggy-whips, er, I mean newspapers!”
What Warren obviously fails to realize is that, with the advent of the Internet, there’s essentially no such thing as an isolated locality in terms of information access and exchange. As long as some form of high-speed Internet access is available, a person living in DipShite, Wyoming has the exact same access to information as someone living in NEW YORK CITY. There’s no such thing as local information anymore, and for that reason, local newspapers are hemorrhaging subscribers at the same rate as the big boys.
For some reason,m it seems to be the thing amongst the octogenarian billionaire set to buy up failing print-media outfits that everyone else knows are in their death throes: first Harmon buys Newsweek and now Buffet buys a slew of dying small-town newspapers. You’d think they might have learned something from Sam Zell’s misadventures.
My guess is that it’s really all about reliving their early youth when they yearned to be William Hearst. Sort of a “Rosebud” kind of thing.
http://www.solarnavigator.net/sponsorship/bill_melinda_gates_warren_buffett.htm
...the decision by Mr Buffett to hand most of his vast personal fortune to a foundation run by Mr Gates and his wife Melinda is unprecedented both in scale and ambition. It marked the latest chapter in America’s great philanthropic tradition which, for more than 150 years, has encouraged the country’s extremely wealthy to give money to the poor.
“Buffett always talks about the absolute necessity of his investments having an “economic mote” ie) that thing which competitors couldn’t duplicate and the market would always need as there was no viable replacement.
Exactly how do dying newspapers fit that requirement???”
They don’t. The last thing Buffett would ever buy is this dying crap. Payoff to Obama, the evil SOB
Couldn’t Rush, Beck, et. al., buy some for the cause?
They might even make money as conservative papers.
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