Warren Buffett buys Tulsa World

[jej]

Anything beats the Lortons...

Buffett's long time practice is that he buys businesses that he likes and leaves existing management in place. A large percentage of his buys are family owned and run businesses that must sell for estate planning purposes. You know - the business is worth $$$, the family has not got 50% of $$$ to pay the estate tax when the owner dies, so they sell. Buffett's support for high estate taxes is cynical good business.

I expect that Buffett's plan is to leave the Lortons in place.

 

[berettaman]

I dont even use the tulsa whurl to wipe my butt,however if buffett buys it I might just start.

 

[flatwins]

What's a newspaper?

 

[inactive]

Who reads newspapers anymore??? That's just crazy considering he's such a smart investor.

I don't get it... any newspaper these days seems like a bad investment.

Are there other factors we might not know about?

Well, a good number of people still reads them, if only digitally. I check it every so often until I reach my quota of free articles and the paywall shuts me down for the month. Either the paywall is actually making them good money, or Buffett thinks they can sell enough ads or get enough other revenue that he can turn it around.

Also, Sunday printed papers still make money, especially recently with the coupon craze in full swing.


So... who knows what's brewing in Omaha.

 

[10Seconds]

I wouldnt invest in newpapers even with other people's money. It doesnt make sense to me. I would hate to see Tulsa not have a newspaper, but on the otherhand, I never look at it unless its been left on a table for free in a restaurant, and would not pay to read it online either since all the news I want is free on the rest of the net.

 

[donner]

I wouldnt invest in newpapers even with other people's money. It doesnt make sense to me. I would hate to see Tulsa not have a newspaper, but on the otherhand, I never look at it unless its been left on a table for free in a restaurant, and would not pay to read it online either since all the news I want is free on the rest of the net.

That depends on the type of news you're looking for. Most newspaper pay walls don't charge for national and international news for that reason, but they do charge for local content. Especially local sports content. Scores are easy to come by, but more detailed local news is where they feel they set themselves apart.

Online readership is up, but newspapers are still big with older people, especially white males, which tulsa has a lot of. It's not a bad market since there is also very little competition. My guess is that Buffett knows what he is doing.

 

[nemesis]

Just wait until this internet fad is over and see who's smiling.

Yeah, I've still got my slide rulers. Calculators are a fad too.

 

[RETOKSQUID]

I just hope the Tulsa World doesn't turn into a Marxist rag like the Norman Transcript.

Oh, it is pretty much there already.

 

[Quick_Draw_McGraw]

Oh, it is pretty much there already.

I agree. With the exception of Bill Sherman their religion writer, it's been left of center for years now.

I pay for a "weekend" which somehow also forces me to pay for Thursday and Friday. I mostly just want the local access and the Sunday advertisements. I get my monies worth just on those Fuji dinner coupons alone. :-)

 

[Lurkerinthewoods]

I get the paper daily. I like thumbing through it while on the pooper. I will probably rethink that option if they try and raise the price.