Articles about "Warren Buffett"


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Warren Buffett buys a TV station

Graham Holdings Company
Berkshire Hathaway will buy "a wholly-owned subsidiary of Graham Holdings Company" that includes Miami's WPLG-TV. The consideration is "approximately 1.6 million shares of Graham Holdings Class B common stock currently owned by Berkshire Hathaway," Graham Holdings says in a press release. Graham Holdings used to be known as the Washington Post Co.
“I am sure this is a mutually beneficial transaction for both companies,” said Warren E. Buffett, chairman and chief executive officer of Berkshire Hathaway. “While this transaction will greatly reduce our position in Graham Holdings, our admiration for the company and its management is undiminished.”
Berkshire Hathaway purchased most of Media General's newspapers in 2012, and it's added lots of newspapers since.

Reuters reported in February that Berkshire Hathaway was in talks with Graham Holdings "to trade the shares it owns in the education and media company for control of a yet-to-be-formed unit of Graham."

Graham Holdings still owns TV stations in Detroit and Houston.
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Buffett group reportedly looking at some Tribune papers

NetNewsCheckThere are certainly good parts of the company we’d have a good interest in,” BH Media Group CEO Terry Kroeger told NetNewsCheck's Lou Carlozo about Tribune Co.'s newspapers. Kroeger "declined to elaborate further," Carlozo writes, but during a speech Monday he said: “The big money-center markets are not what we do best,” and that his division of Berkshire Hathaway, which owns dozens of newspapers, is “best in the 40,000 to a 100,000 circulation range.” By that metric, Tribune papers like The Morning Call of Allentown, Pa., the Daily Press of Newport News, Va., and the Hartford Courant could interest Warren Buffett's company, Carlozo writes. Last December, Buffett told reporters from the Morning Call that "Allentown is our kind of place" and that while he hadn't heard from Tribune directly, "if the phone rings, I'll answer." Tribune Co. reportedly planned to sell its print newspapers after it emerged from bankruptcy at the end of last year, but it later announced it would separate its print and broadcast properties. That didn't necessarily mean the company had abandoned the idea of selling its print properties, Walter Hamilton wrote at the time, but he noted it had "yet to open the newspapers’ books to potential buyers." A Tribune spokesperson declined to comment to Carlozo.
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Buffett-owned Richmond Times-Dispatch introduces paywall

Richmond Times-Dispatch "Giving away content online no longer can be sustained," Richmond (Va.) Times-Dispatch Publisher Tom Silvestri writes in a letter to readers. "Not if we want to be around for another 160-plus years serving the Richmond region and Virginia with the kind of news reporting that makes a difference and advertising deals that delight." The Times-Dispatch's "All Access" plan, coming Tuesday, will operate in a manner now familiar to paywall observers: People who don't subscribe to the paper will be able to see 20 stories per 30-day period without hitting a gate. Videos, obituaries, classified ads, section fronts and wire copy won't count against the meter. And subscription prices will rise next year, Silvestri says, when the paper "will install a comparatively small increase to cover projected higher costs, some of which result from this month’s rollout of new sections and added pages." (more...)
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Roanoke Times eliminates 31 jobs, hopes to become ‘more efficient’

The Roanoke Times
The Roanoke Times laid off employees Wednesday, an action the paper says will make the operation "more efficient and locally focused."

31 positions vanished. The paper says the reductions will be a net improvement and it will "add news gathering resources." But two sources tell Poynter the newsroom lost five positions, including two reporters.

Warren Buffett's media group bought the Times in May. In July, the paper replaced Editor Carole Tarrant with Joseph P. Stinnett. Also in July, the Tulsa World, which Buffett picked up in February, announced it would eliminate about 50 positions, deliver newspapers to distribution centers rather than "drop points" for carriers and move to nonproprietary software.

The (Greensboro, N.C.) News & Record has had two rounds of layoffs since Buffett bought the paper in January. And last year Buffett's group closed the Manassas (Va.) News & Messenger, citing the difficulties the paper was having competing in the greater Washington, D.C., area.
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Roanoke Times changes editors

A memo sent to staffers on behalf of publisher Terry Jamerson says Joseph P. Stinnett will replace Carole Tarrant as editor of the paper. Warren Buffett's BH Media Group announced in late May it would purchase the newspaper.

Stinnett comes to the paper from The News & Advance in Lynchburg, Va. Jamerson joined the Times from The News & Advance concurrent with Buffett's purchase.

Reached by telephone Tuesday, Tarrant said she learned about the change Monday morning. She is currently weighing opportunities and looking forward to spending the rest of the summer with her 11-year-old son. "My Facebook page has just gone crazy with really heartfelt support," she said. "You always hope you leave an impact." Until she learned she was out, Tarrant said, she was unaware of any problems her bosses had with her tenure.

Tarrant joined the Times in 2005 and was named its editor in 2007.

The Times sent out a press release with what appears to be the same wording as the memo, which follows. (more...)
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Warren Buffett buys Press of Atlantic City

Omaha.com
Warren Buffett's newspaper company, Berkshire Hathaway Inc., has announced plans to buy the Press of Atlantic City, Omaha.com's Steve Jordon reports. Mark Blum will become publisher in August, once the purchase goes into effect. This will be the 30th paper Berkshire Hathaway has purchased. Most recently, it announced the purchase of the Roanoke (Va.) Times in May.
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Warren Buffett

Warren Buffett’s big payday, and other notes on Media General’s merger with Young

Few paid much attention to the blandly worded announcement a week ago of a merger between Media General and New Young Broadcasting. That was no surprise — an agreement between two midsize local broadcasting companies isn’t nearly as big a … Read more

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What are Warren Buffett’s plans for Va., N.C. papers?

The Business Journal of the Greater Triad
Warren Buffett's BH Media has "been buying newspapers in a fairly tight geographic area," Mark Sutter writes.

He notes the company, which bought The Roanoke (Va.) Times last week, "has purchased at least 17 newspapers in central Virginia and central North Carolina within the last two years, including the Triad's two major daily newspapers — the News & Record in Greensboro and the Winston-Salem Journal."

In no other geographic area, including Buffett’s home state of Nebraska, does BH own such a cluster of newspapers. (more...)
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Warren Buffett buys The Roanoke Times

Omaha.com | The Roanoke Times
Warren Buffett's World Media Enterprises will buy The Roanoke (Va.) Times, Steve Jordon reports. Buffett's BH Media Group is purchasing the paper from Landmark Media Enterprises "for an undisclosed price," Jordon reports.

Buffett's last newspaper purchase was the Tulsa World in February. With the purchase, Buffett's group will own 29 daily newspapers.

Roanoke Times publisher Debbie Meade is retiring, Jordon reports; BH Media VP Terry Jamerson will become publisher.
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Newspaper carrier saves person from fire while on duty

The Reidsville Review | Greensboro News & Record | WGHP-TV
Steve Bradshaw, a newspaper carrier for Warren Buffett-owned World Media Enterprises, pulled a man from a burning house Sunday, Danielle Battaglia reports in The Reidsville Review. Bradshaw was on duty in Reidsville, N.C., Sunday morning and saw smoke at a house; he "tried to pound on the front door to see if anyone lived there."

Bradshaw -- who said he was a former volunteer firefighter -- pulled a man who was inside the house out through a window. "He was overwhelmed by the smoke," he told Battaglia.

"Had [Bradshaw] not been there the outcome could have been substantially different," Reidsville Fire Marshal Jay Harris told the paper.

Last December, a Roanoke (Va.) Times carrier saved a woman from a fire.

Related: Dallas Morning News gets serious about newspaper theft
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