Warren Buffett's Berkshire Hathaway buys Media General newspaper group

[stlsaxman]

Source: Guardian UK

Warren Buffett, the world's most famous investor, has made a big bet on small newspapers.

The billionaire investor has bought Media General, owner of 63 local US newspapers covering markets across Alabama, North Carolina, South Carolina and Virginia.

The move is just the latest foray into print from Buffett. Last year Berkshire bought the Omaha World Herald Company, owner of Buffett's local newspaper and six other local titles. At Berkshire's recent annual shareholder meeting Buffett said he was considering other local newspaper acquisitions. "We may buy more newspapers. I think the economics will be ok, but it will be nothing like the old days," he told the meeting.

Read more: http://www.guardian.co.uk/media/2012/may/17/warren-buffett-buys-media-general

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- "Take THAT, Rupert!"

[polichick]

1. Wow, perhaps real "news" will rise from the dead...

...in the South. Whenever I travel there, I insist that the hotel manager turn off Faux News in the lobby - that's all they ever have on. Surprisingly, they do switch channels upon request - at least while I'm in sight. lol

[blm]

2. GOP voters have been getting their 'news' from a Korean cult leader and an Australian extortionist

for so long they are ready to replace this nation's democratic republic with global fascism.....just as expected when GHWBush tapped those two to be the chief messengers for NWO's global fascist agenda.

[polichick]

3. Very true - and completely EVIL.

[Uncle Joe]

7. That's a most excellent summation, blm.

[blm]

18. Thanks, and please add these references when you have the occasion to speak of these global fascists

The more verbal shots directed at these two fascists the sooner this nation will get back on track.

[harmonicon]

11. Yeah! Dirty immigrants!!

Sorry, but being an immigrant shouldn't be used against someone.

[blm]

12. Baloney.'immigrants' weren't tapped to push a global fascist agenda over 30yrs ago - Fascists were

and they were fascists who knew how to get a certain type of rightwing Americans to believe their anti-American rhetoric and propaganda to the point where they would turn against their own country's democratic republic and accept the global fascism of NWO. You think Citizens United just happened? There had to be a large audience of voters who could be conditioned over the years to ACCEPT it first.

[harmonicon]

13. This relates to my post how? (nt)

[blm]

14. I wasn't bashing immigrants by pointing out that Rev Moon is a Korean cult leader and

Murdoch an Australian extortionist. I pointed it out because they are global fascists who targeted an entire group of Americans to hate their own country's governance.

[harmonicon]

15. Murdoch is a US citizen. Moon has lived in the US for 40 years.

You can criticize them for their actions and politics, but to use their immigrant status as an insult is an insult to all immigrants.

[blm]

16. No - it isn't. It's used in the context of the global fascism they both support.

They came here for a reason, gained control of their media empires for a reason, and that reason was GHWBush's NWO - global fascism.

[harmonicon]

17. Whatever.

Justify it to yourself all you want.

[blm]

19. You're the one reaching to justify your view of what I said.

No one else would think that I am bashing immigrants just because I aimed accurately at Moon and Murdoch.

[harmonicon]

20. You singled out their immigrant status when describing them in negative terms.

It's no different than when right-wingers describe Obama as "Kenyan" to demean him.

[BlueToTheBone]

21. One reason that tvs are tuned to FOX

is that the network pays the bill for gas station chains, restaurants and hotels and the deal is they tune to Fox. Sweet deal, eh?

[GeorgeGist]

4. woohoo greed marches on.

take that 99%.

[shcrane71]

5. I've heard that the Omaha World Herald's coverage has gotten better since the BH buy.

I've been surprised that the World Herald has covered such stories as anti-LGBT discrimination ordinances, alternative energy, keystone pipeline, and the flood of the nuclear reactor in Ft. Calhoun.

[progressoid]

6. Well, since he purchased the Omaha WH,

it hasn't really gotten any better. Nor has it gone further to the right either. OWH also is part owner of our local rag, which is still full of errors and crap.

I don't think he or Berkshire is really taking a role in the day to day operations of the news like Rupert.

[Cal33]

8. But Rupert is in serious trouble now, and not only in the UK. I understand he is

under investigation by the FBI here in the US, too.

[jwirr]

9. Finally. This may even save the newsprint from totally disappearing.

[Seeking Serenity]

10. Buffett says free news is 'unsustainable.'

BH may be planning on buying more papers.

[link:http://www.bloomberg.com/news/2012-05-24/buffett-says-free-news-unsustainable-may-add-more-papers.html|