Warren Buffet Plans to Buy Omaha Paper

For years The Omaha-World Herald has been a employee owned paper. However Omaha native and billionaire Warren Buffet and his company Berkshire Hathaway are purchasing the paper.

Buffet told his shareholders two years ago not to buy newspapers because they face a possibility of unending losses. However Buffet believes that the World-Herald is doing it's job reporting to the community. In a meeting with with the company shareholders Buffet said, "I wouldn't do this if I thought it was doomed to some sort of extinction."

Buffet is offering the World-Herald $200 million for the paper. The final decision will be made by a vote by 275 employees and retirees who own World-Herald Stock.

The World Herald is excited about this. They believe that by being locally owned they will be able to continue great journalism.

One point that may come as a concern and has some employees skeptical is that Buffet may try to influence the news coverage, especially that about Berkshire Hathaway. With this as a concern the World-Herald is confident that he will not try to influence what is in the paper.