Berkshire Hathaway (BRK.A) agrees to pay $142M to acquire most of Media General's (MEG)...

Berkshire Hathaway (BRK.A) agrees to pay $142M to acquire most of Media General's (MEG) newspapers, including 63 daily and weekly titles in Virginia, North Carolina, South Carolina and Alabama. Berkshire also takes a 19.9% stake in Media General as part of a deal to provide the firm with a $400M term loan and a $45M revolving credit line. (PR)

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Comments (4)
  • long_on_oil
    , contributor
    Comments (1357) | Send Message
    My God it is time to replace Warren with his successor, first he buys GM and now newspapers. Both are doomed to extinction. In the past I have supported Buffet 100% but these last two purchases are from a mind of 20 to 40 years ago. Give me the money you spent on these last 2 purchases in the form of a dividend and I will beat the return you will be getting on these 2.
    17 May 2012, 08:41 AM Reply Like
  • thirstybrain
    , contributor
    Comment (1) | Send Message
    I work for Media General corporate in the digital sales department, should I be scared?
    17 May 2012, 11:20 AM Reply Like
  • long_on_oil
    , contributor
    Comments (1357) | Send Message
    You sell Media General to us BRK stockholders. All we know is the hard copy newspapers are dead. If you know anything that paints a rosy picture concerning this investment, please share with the rest of us.
    18 May 2012, 11:10 AM Reply Like
  • Vincent Tedone
    , contributor
    Comments (2) | Send Message
    I think both of these are questionable. GM still has the union expenses hanging over their head. Had they gone through bankruptcy reorganization these contracts would have been voided. News papers are a dying media unless Warren knows some thing planned for these losing tabloids
    17 May 2012, 11:49 AM Reply Like
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