Buffett to Tribune owners - Call me!

Fri Dec 14, 2012 11:01am EST

1 of 2. Warren Buffett, CEO of Berkshire Hathaway, addresses The Women's Conference 2008 in Long Beach, California October 22, 2008.

Credit: Reuters/Mario Anzuoni

(Reuters) - Warren Buffett is mulling the prospect of owning at least one of Tribune Co's newspapers.

Buffett told The Morning Call in Allentown, Pennsylvania that "Allentown is our kind of place," in response to a question of whether his conglomerate Berkshire Hathaway was interested in the 84,000 daily circulation paper.

Tribune is expected to sell its stable of newspapers - which also includes the Los Angeles Times and the Chicago Tribune - when it exits from bankruptcy, in order to concentrate on its broadcasting properties.

Potential other bidders that could line up for the newspapers include U-T San Diego owner Doug Manchester, Freedom Communications owner Aaron Kushner, and News Corp's Rupert Murdoch.

"We haven't heard anything from the Tribune Co but if the phone rings, I'll answer," Buffett told the Morning Call.

Buffett's relationship to the newspaper industry has been fickle: in 2009 he told Berkshire shareholders that he would not buy most newspapers in the U.S. "at any price."

But lately his affections have turned as he chooses newspapers in small to medium-sized markets. He has been on a buying spree, acquiring stakes in newspapers companies like Lee Enterprises and snapping up properties like the majority of Media General's newspapers.

(Reporting By Jennifer Saba in New York; Editing by Nick Zieminski)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
poor, poor little democrat liberal buffet. still trying to be revelant,lol

Dec 14, 2012 11:31am EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video