Buffett Says His Firm Likely To Buy Newspapers

Warren Buffett says his company is likely to buy more newspapers in the next few years, and Berkshire Hathaway will not try to influence the editorial policies of any of them.

 

 

 

 

OMAHA, Neb. (AP) - Warren Buffett says his company is likely to buy more newspapers in the next few years, and Berkshire Hathaway will not try to influence the editorial policies of any of them.

Buffett wrote a memo this week to the editors and publishers of all of Berkshire's daily newspapers. That group is about to get significantly larger because Berkshire announced last week that it plans to buy 63 newspapers from Media General Inc. for $142 million.

The letter was posted online Thursday by the Omaha World-Herald, which is a Berkshire newspaper.

Buffett says Berkshire will look to buy small to mid-sized newspapers that cover their communities well.

Buffett believes newspapers need to adopt a business model that doesn't give away all its stories for free online.

(AP file photo)

 

AP

   

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