NEW YORK (MarketWatch) — Move over, Orson Welles. Warren Buffett has finally achieved your kind of immortality.
As cinema-philes mark the 70th anniversary of one of America’s most beloved movie classics, the Oracle of Omaha has all but anointed himself as the media’s new Citizen Kane.
Yeah, yeah, I know. Buffett has long been one of the world’s wealthiest individuals. And he may well be the most admired and respected investor who has ever lived. And now, he has also established himself as Mr. Philanthropy. Big deal, though. What does any of that really do to feed a restless man’s ego at the end of the day?
Buffett, the chairman and chief executive of Berkshire Hathaway (XNYS:BRK-A – News) (XNYS:BRK-B – News) announced Wednesday that Berkshire — aka Warren Buffett — is acquiring the Omaha World-Herald Co. The deal is expected to close in December.
Reuters Berkshire Hathaway Chairman Warren Buffett
The news raises more questions than it answers.
What does Buffett, not so long ago an outspoken pessimist on the subject of the newspaper industry’s growth prospects, see in a small, Midwestern chain? Will he inspire mega-wealthy folks to buy a newspaper? Can he apply his Midas touch to a beleaguered industry that needs all
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