At $200M, purchase not about investing
(NEWSER) - Warren Buffett makes news for his multi-billion-dollar investments, not a piddly $200 million—but Buffett surprised many people when he announced yesterday he was spending that to buy his hometown newspaper, the Omaha World-Herald, reports Bloomberg . The billionaire slammed the newspaper industry two years ago, saying it had the "potential for unending losses," and that he would never buy one "at any price." But now Buffett seems to have changed his tune: “I wouldn't do this if I thought this was doomed to some sort of extinction,” he said, according to the Omaha World-Herald . More»
