Good old Warren Buffett and his folksy ways. A bunch of newspapers like the Clinch Valley News, the Hickory Daily Record and the Goochland Gazette will fit right in alongside Dairy Queen and See’s candies in Berkshire Hathaway’s collection of quaint Americana.
It’s nice to see a well-meaning billionaire sparing $142m in small change for the hard-hit community newspaper trade, particularly one who still likes to talk about the lessons he learned on his childhood paper route. As he sang to the Omaha Press Club a few weeks ago, “I’m only a paperboy.”
But look a little closer and it becomes clear that Thursday’s deal for most of Media General’s publications is as rational and opportunistic as any of Mr Buffett’s bigger deals. Read more