Warren Buffett Buys Lee Enterprise Debt, Now Owns 4% of the Company
Categories: Bidness, Post-Dispatches
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| Newsies, get it? Eh, it'll all make sense after the jump. |
It's not Buffett's first venture into the newspaper biz, by any means.
Berkshire Hathaway owns a stake in the Washington Post Co, the Buffalo News and Buffett's own hometown paper, the Omaha World-Herald Co. In his teenage years Buffet was a paper boy, so his newsie roots run deep. Behold.
Interestingly, Buffett earns less in salary ($100,000) than Lee Enterprises CEO Mary Junck earned in bonus money this year ($500,000) for guiding the company out of bankruptcy. That should make for some interesting conversation at the next stockholders meeting.
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