Buffett to buy the (Omaha) World-Herald

[Brickbat]

Source: Omaha World-Herald

The Berkshire Hathaway company has agreed to purchase The Omaha World-Herald Co. from its employee shareholders and the Peter Kiewit Foundation.

The transaction is expected to close in late December, pending approval of The World-Herald's shareholders, made up of active employees, retired employees and the Peter Kiewit Foundation. The purchase also is subject to customary closing conditions, including regulatory approvals.

Warren Buffett, chairman of Berkshire, said “The World-Herald delivers solid profits and is one of the best-run newspapers in America, and we are pleased to have Terry Kroeger and his team join Berkshire Hathaway.”

Kroeger, publisher, president and CEO of The World-Herald, said “Buffett's offer to purchase our company presented a unique opportunity to address our long-term capital needs and continue local ownership of The Omaha World-Herald, which is consistent with the legacy left to us by Mr. Kiewit.”

Read more: http://www.omaha.com/article/20111130/NEWS01/111139986#-lt-big-gt-buffett-to-buy-the-world-herald-lt-big-gt

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I have mixed feelings about this. I like the idea of an employee-owned newspaper.

[banned from Kos]

1. Then the employee/owners could reject the deal (I like employee owned media too)

The real question is why giant Berkshire wants a puny little newspaper. Buffett is active in Omama though. Does the paper have a conservative editorial board?

[Brickbat]

2. I think they'll accept.

Company stock has held flat for awhile, and the company stopped voluntary buy-backs because it was spending so much on retirements and early retirements.

Its board has traditionally published conservative opinions.

[Drahthaardogs]

5. Buffet is from Omaha!

He lives here in a modest house and hangs out at Gorat's steakhouse. Nebraska is very conservative. Remember, this state brought you Larry the Cable Guy!

[Newsjock]

3. (Warren) Buffett to buy The (Omaha) World-Herald

Source: Omaha World-Herald

The Berkshire Hathaway company has agreed to purchase The Omaha World-Herald Co. from its employee shareholders and the Peter Kiewit Foundation.

The transaction is expected to close in late December, pending approval of The World-Herald's shareholders, made up of active employees, retired employees and the Peter Kiewit Foundation. The purchase also is subject to customary closing conditions, including regulatory approvals.

Warren Buffett, chairman of Berkshire, said “The World-Herald delivers solid profits and is one of the best-run newspapers in America, and we are pleased to have Terry Kroeger and his team join Berkshire Hathaway.”

... 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. Omaha.com, The World-Herald's digital outlet, is the dominant Omaha news site in terms of both visitors and page views.

Read more: http://www.omaha.com/article/20111130/NEWS01/111139986

[musiclawyer]

4. Maybe he can replace that Board with one that ...........

more reflects the needs of the 99%

Most local media in the miodwest is corporate owned and has been spewing right wing garbage for years. It takes just a little calm persuasion to make people think about the political choices they have been making

[No Elephants]

6. The OP article gives no indication that he will replace the board and he specifies he will not get

involved in content.