63 daily and weekly newspapers scattered throughout the U.S. Southeast, including the Richmond Times-Dispatch, will be operated under BH Media Group, a new subsidiary of Berkshire Hathaway
This is only speculation — some might wonder if Buffett, who has been close to the Obama Administration, might enjoy owning dozens of media outlets in swing states Virginia and North Carolina in an election year.
Dont forget Buffets highly skeptical comments in his 2007 letter to shareholders.(Quotes”)
“When an industry’s underlying economics are crumbling, talented management may slow the rate of decline. Eventually, though, eroding fundamentals will overwhelm managerial brilliance,” he said in discussing the shrinking profits at his first newspaper holding, the Buffalo News.
But Buffett was adamant that the World-Herald deal was “reasonable,” and told shareholders earlier this month they were likely to see him do more.
“We may buy more newspapers. I think the economics work out OK,” Buffett said at Berkshire’s annual meeting on May 5.
Buffett under Obamas influence.(is he senile?) buying up all of these news papers and media?? possible that with Comcast, NBC ect already in liberal hands now the buyup of struggling newspapers and weekly’s.
There is also the attacks on Rupert Murdoch to consider. the only opposing voice to progressive socialist double-dealing media.