The Only Papers Warren Buffett Cares About Are Financial Documents

Earlier this week, Warren Buffett bailed on the newspapers that he purchased less than a decade ago. That’s uncharacteristic for Buffett. Berkshire Hathaway, the massive conglomerate that Warren Buffett controls, typically acquires assets for the longterm, even when they lose money. Buffett’s so-called “love affair with newsprint” is over. The truth is Buffett never showed much love to the small to medium-sized newspapers that Berkshire Hathaway amassed.

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.

Warren Buffett Is No Friend Of The Working Class

Saturday there was a minor KKK rally in Charlottesville Virginia that was met with a huge counter-protest. Triad City Beat’s Jordan Green reported on his Facebook page that 40 Klanspeople were confronted by 1000 anti-racist activists. With Donald Trump in the White House, it is important to stand up to racists and fascists.  But personally, I’m more worried about wolves in sheep’s clothing than the tiny remnant of the KKK that exists today. Warren Buffett, the oligarch from Omaha is no friend of the working class. He might favor progressive taxation (though Berkshire Hathaway has used Wall Street trickery to avoid taxes) and single-payer healthcare (though he owns an insurance company) but don’t let the world’s second-richest man fool you.

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.