Buffett Makes News by Buying It
November 30th, 2011
NYDailyNews reports Warren Buffett, who once said U.S. newspapers are not good investments, has changed his mind about his hometown paper. The last employee-owned major newspaper in the country, Buffett says the Omaha World-Herald “delivers solid profits and is one of the best run newspapers in America. The editorial independence that Nebraskans and Iowans have come to expect from The World-Herald will continue.” The deal is expected to be concluded by the end of the year. His company bought the Buffalo News in 1977. Buffet’s Berkshire-Hathaway also owns BusinessWire and Clayton Homes, the largest producer of manufactured homes in North America.
(Photo credit: Yoshikazu Tsuno/AFP/Getty Images)
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