Buffett Makes News by Buying It

NYDailyNews reports Warren Buffett, who once said U.S. newspapers are not good investments, has changed his mind about his hometown paper. The last employee-owned major newspaper in the country, Buffett says the Omaha World-Herald “delivers solid profits and is one of the best run newspapers in America. The editorial independence that Nebraskans and Iowans have come to expect from The World-Herald will continue.” The deal is expected to be concluded by the end of the year. His company bought the Buffalo News in 1977. Buffet’s Berkshire-Hathaway also owns BusinessWire and Clayton Homes, the largest producer of manufactured homes in North America.

(Photo credit: Yoshikazu Tsuno/AFP/Getty Images)

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