You would think that working in journalism for a long time would temper columnists against looking to the hugely rich for salvation, but this is not always so. David Pauly of Bloomberg News (named for a hugely rich man, natch) penned a column this week floating the idea of investor extraordinaire Warren Buffett buying up the New York Times Company, Dow Jones, the Tribune Company, and the Washington Post Co. All of them! All at once!
For about $20 billion, Pauly says, Buffett could grab all these desperate companies in one fell swoop. That would give him ownership of, essentially, every important paper in America.
I'm sure Warren Buffett is a nice, honest guy. But that proposal is the scariest thing I've heard in a long time. Nobody, whether conservative, liberal, or otherwise, should be able to control what amounts to the entire news agenda for the US and much of the rest of the world. I know newspaper companies are in trouble, but dang.
Have you registered with us yet?
Register now to enjoy more articles and free email bulletins