Warren Buffet a Vulture Capitalist?

[Vel]

Warren Buffet bought this paper last year and is now closing it down. I guess. in liberal logic, he must have gotten what assets he could and cannibalized what was left.
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Posted at 12:35 PM ET, 11/14/2012
Manassas News & Messenger and InsideNoVA.com, top Prince William news sources, closing down
By Tom Jackman

When investor and newspaper fan Warren Buffett bought the Media General newspaper chain last year, there was hope for all of them, including the Manassas News & Messenger and the Richmond Times-Dispatch.But Buffett’s company announced today it is shutting down the News & Messenger after 143 years, as well as its highly informative Web site, InsideNoVA.com. It is the only paper in the Media General chain being shuttered by World Media Enterprises, a division of Buffett’s Berkshire Hathaway Inc.
When Buffett bought the 63 papers in the Media General chain, he said: “In towns and cities where there is a strong sense of community, there is no more important institution than the local paper. The many locales served by the newspapers we are acquiring fall firmly in this mold and we are delighted they have found a permanent home with Berkshire Hathaway.”

This is actually the closing of two newspapers, since the Potomac News and the Manassas Journal Messenger merged in 2008. World Media said all 33 people working for the paper and Web site would lose their jobs, along with 72 others in the Media General corporate structure.

There are a lot of talented and hard-working journalists at the News & Messenger and InsideNoVA and they deserve our respect and thanks. They didn’t deserve to be shut down after 143 years of public service.

Manassas News & Messenger and InsideNoVA.com, top Prince William news sources, closing down - The State of NoVa - The Washington Post

 

[beretta304]

It's okay. He's Obama's pal. It doesn't count.