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Warren Buffett owns newspapers, undermines them [Great Moments In Pr]

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Warren Buffett's good betWho needs journalists, really? That's what Business Wire argues. Warren Buffett, the billionaire CEO of Berkshire Hathaway, picked up Business Wire in 2006. He claims not to be tech-savvy, but this investment suggests otherwise. Press releases distributed by Business Wire are picked up directly by services like Google News and Techmeme. As a source, Business Wire ranks 32nd on Techmeme's list -- not a bad performance. Buffett also owns a large stake in the Washington Post Co. But if that goes bust thanks to the advent of online media, it seems like Buffett picked himself a nice hedge.



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