Playing the billionaires’ news game, mega-investor Warren Buffett once held a portfolio of 31 dailies and 49 weeklies, including such major city papers as the Buffalo News and the Omaha World Herald. He specialized in squeezing out competitors. His scheme was to create monopoly papers and then chop staff and news content, letting him glean annual profit margins above 30%. But alas for poor Warren, along came the internet, allowing people to root around for […]
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