One of billionaire investor Warren Buffet’s conglomerates, Berkshure Hathaway, Inc., what the largest shareholder of the Washington Post Co. before it was sold to Amazon’s Jeff Bezos. Buffet said he thought about buying the beleaguered Washington Post but decided against it because “he didn’t want it to be a burden on his company or family.”
Investor Warren Buffett says he didn’t buy the Washington Post because he didn’t want it to be a burden on his company or family. …
Buffett didn’t go into detail about why he passed on the Post. But he has said in the past that he believes smaller papers will fare better because they remain the primary source of information about their communities.
CNN Money adds:
Buffett said that for him to have bought it for Berkshire would have saddled the next CEO (whoever that might be, taking office at an unknown date) with a metro newspaper that he or she possibly wouldn’t want.
And to buy it personally, he added, would have at his death burdened his three children — Susie, Howard, and Peter Buffett — with the same kind of complex considerations.
Last October, Bezos purchased the Post for $250 million.
Follow John Nolte on Twitter @NolteNC
COMMENTS
Please let us know if you're having issues with commenting.