ALLENTOWN MORNING CALL: …Asked if his company, Berkshire Hathaway of Omaha, Neb., might buy The Morning Call, Buffett responded: “Allentown is our kind of place.”
Chicago-based Tribune — which also owns the Chicago Tribune newspaper, the Los Angeles Times and the Baltimore Sun, as well as other newspapers and TV stations — is expected to emerge from Chapter 11 bankruptcy protection by the end of the year. The new owners, a group of investment companies, have taken initial steps toward divesting themselves of print operations, according to news reports quoting anonymous sources.
Some high-profile names have emerged as potential buyers. Among them is the Rupert Murdoch-led News Corp., said to be interested in the chain’s larger papers, particularly the Chicago Tribune and Los Angeles Times, according to some reports. Another is Freedom Communications, which owns seven newspapers, including the Orange County Register in California… (more)
EDITOR: Buffett recently said on the “Charlie Rose Show” that he is only interested in inveseting in companies that will be around in fifty years. As examples, he gave Coca Cola and railroads. If Berkshire purchases The Morning Call, it would be sending quite a message. Perhaps the article is a bit of wishful thinking by the editors.
