Happy Birthday, Winston-Salem Journal!

Happy Birthday, Winston-Salem Journal and all the best to its reporters who are out covering stories during a pandemic. That being said, I would like to wish a plague on Berkshire Hathaway for not investing in the Journal, despite having the financial resources to do so. Warren Buffett lied when he said that he loved newspapers and valued them as important community resources. Berkshire Hathaway recently “sold” the W-S Journal and many other newspapers to Lee Enterprises, a cost-cutting corporate outfit that doesn’t inspire confidence in the paper’s future. The city’s newspaper of record officially turns 123 years old today.

The Winston-Salem Chronicle Is A Black Newspaper

Forgive me for stating the obvious. Everyone in Winston knows that The Chronicle is a Black newspaper, and that’s a good thing-something that The Chronicle should be proud of. That’s something that they should embrace. So why doesn’t The Chronicle mention that basic fact in their newspaper or website masthead? The Chronicle’s print edition front page has a nice, bold look.

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. But it turns out, he’s not very good with running newspapers.

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 newspapers.

After Five Years It’s Clear, Warren Buffett Isn’t Going To Save The Winston-Salem Journal

Back in May 2012, Warren Buffett’s Berkshire Hathaway bought the Winston-Salem Journal and a host of other small and medium-sized papers from Media General. Five years ago there was optimism that Warren Buffett would reinvigorate the Journal. Sadly, five years later, we now know better. Buffett hasn’t invested in our local paper, it’s just another asset to him. Sunday’s Winston-Salem Journal had an excellent cover story on Kalvin Michael Smith.