Buffett Buys What He Believes In And Well Understands

December 1, 2011 By David Burn Leave a Comment

“I’m not comfortable without an honest-to-God newspaper in my hand.” -The Oracle of Omaha

Warren Buffett got his start in business as a paperboy. And a paperboy he remains.

According to The Omaha World-Herald, Buffett will pay $200 million to buy the state’s largest newspaper, a price that is well within his comfort zone.

“It is a reasonable investment. There is no question it is affected by the fact that I am extremely bullish on Omaha, Nebraska. We live in a vibrant economy here. . . . It’s prosperous, and it’s a community that has a sense of community. I think that’s important to a newspaper.”

The World-Herald is the 49th largest newspaper in the country as measured by the daily distribution of the printed newspaper. It also is in the top 10 newspapers in the country in terms of the percentage of households in its market that subscribe.

Buffett’s company, Berkshire-Hathaway also owns The Buffalo News and a significant share of The Washington Post.

Filed Under: Economic Indicators, Media Trends

About David Burn

I wrote my first ad for a local political candidate when I was 17. She went on to win her race, and I felt the power of persuasive copy for the first time. Starting in Portland in 1995, I worked my way across the country as a copywriter and eventually became a content director making media products for big packaged goods brands. I returned to Oregon in 2008, and now I focus on building brands for companies that matter, including this one.