Small Cap Newspapers are Attracting Big Money
Posted: 4/26/2012 | By: Jonathan Yates | smallcapnetwork.com
Some of the richest people in the world, such as Warren Buffett and
Carlos Slim, are investing in the debt and equity of newspaper companies
such as Lee Enterprises (NYSE: LEE) and The New York Times (NYSE: NYT). Gina Rinehart, the richest person in Australia, is also putting big money into The Fifth Estate.
Buffett, head of Berkshire Hathaway, (NYSE: BRK-A), is a longtime fan of the newspaper industry, serving on the board of The Washington Post. He recently bought The Omaha World Herald for the holdings of Berkshire Hathaway. In a debt transaction, he bested Goldman Sachs (NYSE: GS) in a bond deal involving Lee Enterprises.