Warren Buffett's Berkshire Hathaway buys Media General bi-weekly group

Artikel terkait : Warren Buffett's Berkshire Hathaway buys Media General bi-weekly group

Goclix.blogspot.com-Warren Buffett, the world's a lot of acclaimed investor, has fabricated a big bet on baby
newspapers. The billionaire broker has bought Media General, buyer of 63 bounded US newspapers accoutrement markets beyond Alabama, North Carolina, South Carolina and Virginia.

Buffet's BH Media, allotment of his Berkshire Hathaway investment company, paid $142m in banknote for the titles. Under a abstracted acclaim agreement, Berkshire Hathaway will accommodate Media General with a $400m accommodation and a $45m revolving acclaim line.

The move is just the latest attack into book from Buffett. Last year Berkshire bought the Omaha World Herald Company, buyer of Buffett's local bi-weekly and six added bounded titles. At Berkshire's contempo annual shareholder affair Buffett said he was because added bounded newspaper acquisitions. "We may buy added newspapers. I anticipate the economics will be ok, but it will be annihilation like the old days," he told the meeting.

Announcing his latest acquirement Buffett said: "In towns and cities where there is a able faculty of community, there is no added important institution than the bounded paper. The abounding locales served by the newspapers we are accepting abatement durably in this mold, and we are delighted they accept begin a abiding home with Berkshire Hathaway." Buffett, a above bi-weekly supply boy, has continued been a fan of newspapers and an broker in The Washington Post. But alone a few years ago he was authoritative acute predictions about the approaching of the industry.

Asked about newspapers as investments in 2009, Buffett said: "For most newspapers in the United States, we would not buy them at any price. They accept the
achievability of traveling to just amaranthine losses." Buffett isn't the alone billionaire assuming an absorption in newspapers. Carlos Slim, the Mexican telecoms billionaire, is a above actor in the New York Times. Earlier this year Gina Rinehart, billionaire babe of mining magnate Lang Hancock, became one of the better shareholders in Australia's Fairfax Media, administrator of The Age, Sydney Morning Herald and other titles.

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