Warren Buffett Tacitly Admits Newspapers Are More Difficult To Produce Than Bottles Of Ketchup

Warren Buffett’s Berkshire Hathaway Media just announced a partnership with Lee Enterpises Inc.

The Oracle of Omaha, the billionaire that it’s okay to like-if you don’t look too closely, Warren Buffett knows how to cut deals. But clearly, he doesn’t know how to run newspapers.

Buffett’s life work has been relentless acquisitions; transforming Berkshire Hathaway from a struggling textile company into a Wall Street mega-conglomeration of unrelated companies and stock portfolios.

He’s great with numbers, corporate earnings reports, etc. … Read the rest

Against Their Will: The Journal, News And Record Layoff Workers To Aid Buffets Bottom Line

 

Today is another sad day for local journalism in the Triad and beyond. The Winston-Salem Journal and Greensboro News & Record just laid off more workers, including journalists. Warren Buffett’s Berkshire Hathaway, the parent corporation of the Journal, News & Record and many other small and medium-sized newspapers is cutting costs even as its publication’s page views are increasing. Warren Buffett is famous for playing the long game in stocks. But Buffett isn’t demonstrating the same patience with his … Read the rest