Fancy that! One of world’s richest man buys a…newspaper

Have a look at my blog from yesterday, then check this out. I swear I didn’t know he was in the market!

From the Omaha (Nebraska, U.S.) Herald

“Warren Buffett said he is buying The Omaha World-Herald Co. in a $200 million transaction because well-run newspapers have a future and because Omaha is a “vibrant” community.
He said his hometown paper has been true to its role as a primary source of information for the community.
“I wouldn’t do this if I thought this was doomed to some sort of extinction,” said Buffett, chairman and CEO of Berkshire Hathaway, whose surprise appearance at a meeting of the company’s employee-shareholders at the Holland Performing Arts Center drew a standing ovation. The World-Herald is the last major employee-owned newspaper in the country.”

Now Buffet is an absurdly wealthy man with not too many more years left and he’s working hard to shed himself of his vast fortune. Ensuring his hometown paper’s future might be on his bucket list. But I prefer to believe he sees something that I alluded to yesterday.


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