Warren Buffett’s Berkshire Hathaway has been swimming against the tide when it comes to newspapers – his company believes they are a good investment, has been buying and is looking to buy more.
Buffet picked up his hometown Omaha NE newspaper, and told Bloomberg TV at the Sun Valley ID mogul meeting that he’d like more – he’s on the prowl for newspapers that have “primacy” in their communities, newspapers that are still seen as important sources of information and effective places to place advertising.
Buffett told Bloomberg that there are no specific acquisitions in the works – certainly nothing major – but that the company would be more than willing to entertain offers in smaller markets between now and the end of the year.
He actually told Bloomberg, “It just depends on who calls us.”
