Warren Buffett on PBS: Newspapers In Decline, But He Ain't Selling

By: E&P Staff Warren Buffett, the Berkshire Hathaway financier who also owns newspapers, told Charlie Rose on his latenight PBS talk show Thursday that while newspapers are surely in decline he had no urge to sell his properties.

One of the reasons? If he wasn't "doing what I'm doing" in finance he would be working fulltime in newspapers.

Buffett said The New York Times and Wall Street Journal might escape a full decline because of their "national" status.

The two men chatted a bit about Rupert Murdoch's bid for the Journal. Buffett said this didn't "surprise" him and, asked if he would bet against him, he said no. He called Murdoch one of the savviest owners in the world about the media and seemed that way even back in 1974, when they first met, after Murdoch had just spent his first six months in this country.

Buffett said he had thought about making a bid for the Journal himself from time to time but compared it to just "walking down a street and seeing a girl...you think about it...for five minutes."


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